PANews reported on May 21 that crypto analyst Willy Woo wrote that if Bitcoin successfully breaks through its historical high, it will rise to $118,000 "very quickly", and hinted that this point is "coming soon". He then added that Bitcoin completed a structural trend reversal at the end of April, and capital inflows were subsequently realized. If the trend continues, "BTC is preparing to break through its historical high again, which is a long-term bullish layout."