🚨🚨A Bitcoin analyst predicted Bitcoin price to reach $337K, citing strong market indicators and institutional inflows.🚨🚨
Bitcoin's surge to $71K marks another record high amid heightened institutional interest.
Upcoming Bitcoin Halving events and institutional inflows contribute to Bitcoin's bullish sentiment.
A popular crypto analyst has provided a bullish outlook for Bitcoin price as BTC’s meteoric rise continues smashing through the $71,000 barrier, setting yet another record high. Notably, the analyst predicts a staggering high of $337,000 for the flagship cryptocurrency. With optimism soaring and institutional interest intensifying, Bitcoin’s trajectory has investors on the edge of their seats.
Analyst Predicts Bitcoin Price To Hit $337,000
Renowned Bitcoin analyst Willy Woo, managing partner at CMCC Crest, has shared an optimistic outlook for Bitcoin’s price trajectory. Woo’s chart on the X platform illustrates a potential upper-bound model, projecting a remarkable $337,000 peak for Bitcoin.
Notably, he attributes a flurry of factors behind his bullish momentum for Bitcoin. This includes a significant influx of capital into the network as well as the emergence of a full-fledged fundamentals-driven bull market.
However, backing his forecast, Woo emphasizes the Bitcoin Macro Index (BMI), a composite of 17 macro signals, signaling a full-blown bull market. In addition, he highlights the influx of $1.8 billion per day into the network, hinting at strong investor confidence.
However, despite the recent positive momentum, he urged investors to tread cautiously amid the rally. Notably, he warned against potential profit-taking opportunities by the investors, as measured by the Spent Output Profit Ratio (SOPR), suggesting an impending period of consolidation
