- On-chain analyst Willy Woo predicts a 1,500% increase in Bitcoin’s value, potentially reaching $1 million by 2035.
- Woo’s prediction is based on the increasing adoption of Bitcoin and a historic correlation between Bitcoin’s value and the number of Bitcoin users.
- Bitcoin is currently trading at $61,581, up 4% in the last 24 hours.
Bitcoin could reach $1 million by 2035, according to on-chain analyst Willy Woo. The prediction is based on the increasing adoption of the cryptocurrency and its historic correlation with user growth.
Willy Woo’s Bitcoin Prediction
Willy Woo, a well-known on-chain analyst, shared his prediction with his 1.1 million followers on social media. According to Woo, Bitcoin’s value could increase by over 1,500% within the next 14 years. This prediction is based on the increasing adoption of Bitcoin and a historic correlation between the cryptocurrency’s value and the number of its users.
Historic Correlation Between Bitcoin’s Value and User Growth
Woo’s prediction is based on a growth curve model that he developed. According to this model, there is a historic correlation between Bitcoin’s value and the number of its users. He expects this correlation to continue, driving Bitcoin’s value to $1 million by 2035. Woo compares Bitcoin’s current adoption rate to that of the Internet in January 1999, stating that Bitcoin is still early in its adoption phase.
Current Bitcoin Market Status
At the time of writing, Bitcoin is trading at $61,581, marking a 4% increase in the last 24 hours. Despite the current market fluctuations, Woo’s prediction suggests a promising future for the cryptocurrency.
Conclusion
While predictions about Bitcoin’s future value vary, Woo’s analysis offers an optimistic outlook. Based on the increasing adoption of Bitcoin and its historic correlation with user growth, Bitcoin could potentially reach $1 million by 2035. However, as with any investment, potential investors should conduct thorough research and consider the inherent risks.
