Strong Bitcoin rally on the horizon? Expert details BTC growth

Is a strong bullish rally in the price of Bitcoin (BTC) on the horizon? A renowned cryptocurrency expert detailed the potential for price increases, highlighting Bitcoin’s growth in an analysis shared on March 6.

Well-known crypto analyst Willy Woo highlighted the possibility of a significant change in the price of the largest cryptocurrency on the market. In his analysis, the expert suggested that Bitcoin could be close to a monumental price rise.

“In July 2010, BTC was worth 0.7 cents, soared 10x in 5 days and another 1000x in the following 2 years. Why? BTC was introduced into global liquidity with the advent of MtGox. Bitcoin has just been listed on world stock markets, which holds about $100 trillion of capital, and they are accumulating,” he wrote.

Jul 2010, BTC was 0.7 cents, it popped 10x in 5 days, then another 1000x 2 years following.

Why?

BTC was introduced to global liquidity with the advent of MtGox.#Bitcoin just got listed on the worlds stock markets which holds ~$100T of capital, and they are piling in. pic.twitter.com/m7yxyUudK7

— Willy Woo (@woonomic) March 7, 2024

Still on the opportunity, the analyst added that the TA charts will signal overbought for Bitcoin and traders will try to sell. “BTC will move through these charts like a freight train. I saw this happen last cycle, at the end of 2020, when hordes of HNW rushed in with cash purchases of $1 million tickets,” stated.

Renowned cryptocurrency analyst Ali Martinez highlighted the next crucial moves for Bitcoin. “Bitcoin is prepared for a 4% price swing! Keep an eye on the crucial levels: $67,500 and $66,500. Breaking past this $1,000 zone will set the course for $BTC’s next move,” observed.

At the time of publication, the price of Bitcoin was quoted at US$66,923.09 with an increase of US$66,923.09 in the last 24 hours. During this period, the cryptocurrency recorded a trading volume of US$50,645,071,215. In the last seven days, Bitcoin has increased by 6.4%.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.