This New Bitcoin Model ‘Picks the Start of Exponential Bull Runs’
A teaser of what appears to be a new bitcoin (BTC) price model that aims to spot the exact points in time where “exponential bull runs” start have been shared by Willy Woo, a popular BTC analyst. If the model is right, the next bull run could be right around the corner.
According to Woo, his new model shows that bitcoin was setting up for a new major bull run before the COVID-19 crisis, which ultimately led to the major market crash on March 12, dubbed crypto’s Black Thursday. With that now past us, however, we are once again close to an exponential bull run, with Willy Woo estimating that we have “maybe another month to go” before it happens.
The new price model appears to have accurately pinpointed the start of four previous exponential bull runs in 2012, 2013, 2016, and 2019.
However, besides the screenshots shared on Twitter, details about the new model, which Woo says he is “working on,” are still scarce.
Elaborating on the model, Woo called the COVID sell-off in March a “model breaking outlier,” while explaining that the longer it takes before the next bull market starts, the higher the price will go once it gets here.
“A long sideways accumulation band is ultimately a good thing,” the popular analyst wrote.
Willy Woo is a long-time bitcoin investor who became a prominent figure in the BTC trading community after having created several bitcoin price models and indicators. Among them is the well-known Network Value to Transactions (NVT) ratio, which calculates the ratio between the dollar value transacted on the bitcoin network the price of BTC. Also, he’s the author of the Bitcoin Difficulty Ribbon.
At pixel time (11:20 UTC), BTC trades at USD 9,131 and is unchanged in a day. The price is down by 3% in a week, 4% in a month, and 21% in a year.