CoinVoice recently learned that crypto analyst Willy Woo said on his personal social media that under the BTC price ratio model, the exponential Bitcoin bull market has not yet begun. Changes relative to Bitcoin halving indicate that the current cycle may be a mix of the 2013 (strong demand) and 2017 (spot-dominated) cycles in structure. 2020 is a year of wash trading controlled by derivatives.

Willy Woo said that the BTC price model is a combination of 3 different price models moving relative to each other. These three price models are: 1. VWAP price (on-chain "investor" trading volume); 2. Realized price (cost basis); 3. CVDD price (old hands selling, also known as the "bottom" model). [Original link]