March 28, 2024

BTC supply cut to rise to $300,000

BTC supply cut to rise to $300,000

Popular crypto analyst Willie Wu believes that the price of bitcoin can reach $300,000 in just a year.

In the seriesWu's tweets said he had "never been so optimistic" about the outlook for bitcoin for 2021.

"My top model, which predicts $200,000 for BTC by the end of 2021, looks likeConservative.$300,000 is not excluded,"- said Wu.

"The current market on average paid $7456 for its coins.

BTC supply cut to rise to $300,000

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"This phase of re-accumulation coincides with a decrease in the number of mints in the spot market and compared to the last cycle about 2 times longer and deeper", - he said.

BTC supply cut to rise to $300,000

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According to Wu, the dollar increase in the market capitalization of bitcoin for every dollar invested in thiscycle, will exceed the cycles of 2013 and 2017:

"In 2013, it was $2, $2.50 in 2017 and will be$3.50 or more in 2021."

In November, Wu said bitcoin was at the start of its next "major bullish rally" and the price peak would beat the end of 2021.

BTC supply cut to rise to $300,000

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