On-chain analyst Willy Woo predicts a major Bitcoin rally in the coming months, potentially breaking records.
Reasons for Optimism
- Increased global liquidity: This tends to benefit risky assets like Bitcoin.
- Bitcoin halving: The halving event, which occurred in April, removes inefficient miners, reducing sell pressure and potentially boosting demand.
Timing
Woo expects the rally to begin before October this year and continue into 2025.
Historical Patterns
Quant analyst PlanB notes that Bitcoin prices have historically risen significantly within 2-5 months after halving events.
Current Market Conditions
As of writing, Bitcoin is trading around $62,000, below its all-time high in March.
