The Bitcoin Shakeout - Jan ‘21 Trading Update with Willy Woo

“It would take a black swan to push the price below, essentially what we bottomed out at, in the $29,000 range on the daily close… it would really take something extreme.”

— Willy WooLocation: Remotely

Date: Tuesday 26th January

Company: Hypersheet

Role: Co-FounderBitcoin 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.This episode’s sponsors:Kraken - The best place to buy, sell & trade Bitcoin

BlockFi - The future of Bitcoin financial services

Sportsbet.io - Online sportsbook & casino that accepts Bitcoin

Casa - The leading provider of Bitcoin multisig key security.

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