Bitcoin (BTC) is heading to at least $100,000 during the bull bicycle which has already begun, one of the industry'south best-known analysts has confirmed.

Speaking to RT financial news prove the Keiser Report on March 3, Willy Woo said that described BTC/USD hit $135,000 as a "common-sense prediction."

Woo to Keiser: BTC could soon clinch $250K

Woo highlighted the cumulative average Bitcoin toll every bit a particularly effective metric for forecasting future gains.

"You go could 35 times the cumulative average of the price — and that's actually picked every unmarried top in the 10-year history of Bitcoin — correct now that's sitting above $50,000, but it keeps climbing the longer it runs for," he told host Max Keiser.

Explaining that Bitcoin ebbed and flowed in line with the iv-twelvemonth cycles of its cake reward halvings, Woo likened new highs in BTC/USD to water "sloshing" in a bathtub.

"If you lot make a best guess, information technology'due south higher up $100,000; I remember ane of the more common-sense predictions would be around $135,000 based on the timing cycleture and the 35x of boilerplate cap," he connected.

"I'yard looking at around the $100,000 to $250,000 range depending on how long this balderdash market runs."

Optimism drowns out price skeptics

Woo was speaking equally BTC/USD connected trading at around its 200-solar day moving average after a week of noticeable losses.

A sudden but suspicious rally in traditional markets failed to spill over into Bitcoin, leading to criticism from one skeptic in particular that its successes in 2022 would be curt-lived.

At the same time, several industry figures have delivered buoyant cost forecasts for the remainder of the yr, while technical forecasts suggest that current price performance is exactly on schedule prior to May's block reward halving.