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The Bitcoin Shakeout - Jan '21 Trading Update with Willy Woo - WBD305
Description
Location: Remotely
Date: Tuesday 26th January
Company: Hypersheet
Role: Co-Founder
Bitcoin has had a great year so far, after hitting a new all-time high of ~$42,000 it has been in a consolidation range bouncing between $30,000 and $40,000.
Since that top, we have seen a massive uptick in FUD, including a misreported double spend. This 'double spend' scared some investors and NexTech, a software company that had recently bought 130 Bitcoin, sold off the $4 million of Bitcoin they had acquired as a result.
With Bitcoin cooling off for the first time in this bull market, what is the on-chain data telling us, and how can you know when a bull market is coming to an end?
In this interview, I talk to on-chain analyst and the co-founder of Hypersheet; Willy Woo. We discuss the run-up to $42,000, what the on-chain data indicates, price targets for Bitcoin and how to call the top.