2020 Trading & On-Chain Review with Willy Woo

 
 
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“$100,000, I would rate as very conservative, probably overly conservative. I would rate $200,000 upwards as a sweet spot. $300,000 not out of the question, and I do not ridicule $1,000,000.”
— Willy Woo

SHOW DESCRIPTION

Location: Remotely
Date: Tuesday 15th December
Company: Hypersheet
Role: Co-Founder

Bitcoin has had an incredible year. Following the outbreak of the coronavirus, the Bitcoin price crashed to just below $4,000. However, the subsequent government bailouts and money printing has led to many fearing fiat currencies will suffer from high inflation, highlighting the importance of hard money.

Since the lows in March, Bitcoin has gone from strength to strength, particularly on the back of corporate interest. MicroStrategy and Square paved the way for corporations to buy Bitcoin, and others are following. 

Over the last couple of days, Bitcoin has rallied to new all-time highs, reaching close to $24,000, but what makes this time different to 2017? And how high could the price go in 2021?

In this interview, I talk to on-chain analyst and the co-founder of Hypersheet; Willy Woo. We discuss the current state of the Bitcoin market, the catalysts for Bitcoin’s rally and what to expect in the coming year.

TIMESTAMPS

00:04:00: Introductions
00:05:50: The bear market experience
00:07:35: The bull market 2019
00:11:25: PlusToken Ponzi scheme
00:17:13: Effect of pandemic on the Bitcoin market
00:20:54: Deciphering the charts
00:25:08: Referencing charts.woobull.com
00:27:39: Michael Saylor's influence on the market
00:31:07: The effect of a halving
00:35:39: Current run-up compared to 2017
00:43:24: Trend for long-term hodlers
00:48:07: Potential for a supply shock
00:52:31: Will governments buy in?
00:55:51: Predictions
00:59:56: Michael Saylor's purchasing impact
01:02:24: Square's purchase
01:03:32: Willy and Peter pick a number!
01:04:38: Final comments

 

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SHOW NOTES

PodcastPeter McCormack