Willy Woo is a crypto bull that needs no introduction among the cryptocurrency homies. The New Zealander has been one of the most active cryptocurrency analysts, even long before the masses learned anything about Bitcoin. He bought his first Bitcoin in 2013, which allowed him to dig into the so-called “rabbit hole” of decentralized financial assets. Woo’s explorations of the cryptocurrency space led him to create some of the most accurate Bitcoin pricing models.
The metrics came easy to him thanks to his 15 years of experience in the financial industry. For example, only the ignorant crypto traders can say that they have not heard about the Bitcoin NVT ratio. This metric determines Bitcoin’s price-earnings ratio based on its network’s worth and the amount of value being transferred across it. Woo’s Bitcoin NVT ratio featured in leading global publications and research reports.
Now, Woo regularly provides his 988,800-plus followers on Twitter with day-to-day Bitcoin on-chain updates. The analyst, meanwhile, runs Woobull, a subscription-only market research service. He has also been a seed-level equity investor in several crypto companies, including Exodus Wallet, Radix DLT, and LVL.
2021 was a hyperactive year for Woo, as it was for any top analyst associated with Bitcoin. In his first very analysis of the year, Woo correctly predicted an upside boom in the cryptocurrency market, using his dependable indicators that measured the Bitcoin network’s strength based on NVT, spot exchange net flows, entry-adjusted realized cap, etc.
For instance, Woo foretold the Bitcoin price rally accurately in his Jan. 2 analysis, suggesting that “long-term investors should not wait for price pullbacks to deploy additional capital.” Excerpts:
“Given the capital flows, the dip many are looking for may not happen until higher levels. […] The main bull phase is here, the phase when larger than usual capital inflows drive BTC’s price exponentially higher.”
Woo also introduced a new metric, dubbed the “Supply Shock” valuation model, in the same year. It forensically clustered the Bitcoin wallet addresses into distinct investors and then classified their coins as illiquid, liquid, or highly liquid based on the historical behavior of the investor. He used the Supply Shock metric in his August 2021 analysis to correctly predict the BTC price rally to $55,000.
Woo remained bullish ahead of the 2021 close, even after the Bitcoin price declined by almost 50% from its record high of $69,000. He cited greater demand for BTC among hodlers while predicting a bottom for the cryptocurrency.
Bitcoin crashed to below $33,000 at one point in January 2022, deviating away from Woo’s upside forecasts. He blamed the fall on macroeconomic factors but noted that the market has been in a prolonged re-accumulation phase. Woo added that the BTC price would climb in 2022 the same way it did from the $29,000-bottom in July 2021 and that the $10,000 to $60,000 price rally after October 2020. As a result, analysts anticipate the price to reach a new record high in 2022, anywhere from $69,000 to $100,000 — or beyond.
While the market will watch Woo’s bullish predictions closely for the rest of the year, he expects to remain in his role as head of research for Chainlink Capital Management’s Ama Fund, and as general partner S2F Capital.
Markets
Partner at Adaptive Capital
