• Willy Woo’s Indicator predicts Bitcoin’s potential top price

  • According to the Top Price Model indicator, Bitcoin is still in the middle of its growth cycle and has yet to reach the current cycle’s peak, which is around $200,000.

    Willy Woo, an on-chain analyst, created the Top Price Model indicator. The indicator is intended for detecting market cycle tops. The indicator’s data is calculated by multiplying the Average Cap by a factor of 35. The Average Cap is calculated by adding the total daily market capitalization and dividing it by the number of days the market has been open.

    Bitcoin market cycles are commonly used to forecast the next top or bottom. Analysts typically use technical indicators such as moving averages to identify support and resistance zones for a trend or a price.

    Willy Woo’s indicator has been tested three times and has correctly predicted the exact retrace point each time: in June of 2011, April and December of 2013, and the most recent cycle top in December 2017.

    For the time being, the indicator indicates that Bitcoin is moving slightly above the middle of the cycle. Bitcoin came the closest to reaching its all-time high in March, when it was trading at $64,000. Due to the rapid growth of its market capitalization, the cryptocurrency then moved away from the top price.

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