On-chain analyst Willy Woo believes Bitcoin (BTC) is on track to increase by over 1,500% based on one main driver.
Woo tells his 1.1 million followers on the social media platform X that increasing adoption of Bitcoin could drive the top-performing digital asset to $1 million within 11 years.
According to Woo, there is a historic correlation between Bitcoin’s value and the the number of Bitcoin users, which he expects to continue to increase based on his growth curve model.
“On track for $1 million per BTC as ‘fair value’ by 2035. That’s if we take the user growth curve as a guide for valuation. Remember I said fair value and not peak value in bull market hype.
Woo believes that Bitcoin is still early on in adoption, comparing the asset to the Internet’s adoption rate.
“Bitcoin is at 4.7% world adoption, this is the same as January 1999 for Internet adoption. You are still early and that’s backed by the best data available.”
Bitcoin is trading for $61,581 at time of writing, up 4% in the last 24 hours.
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The post Bitcoin on Track To Explode by Over 1,500%, According to On-Chain Analyst Willy Woo – Here’s the Timeline appeared first on The Daily Hodl.
On-chain analyst Willy Woo believes Bitcoin (BTC) is on track to increase by over 1,500% based on one main driver.
Woo tells his 1.1 million followers on the social media platform X that increasing adoption of Bitcoin could drive the top-performing digital asset to $1 million within 11 years.
According to Woo, there is a historic correlation between Bitcoin’s value and the the number of Bitcoin users, which he expects to continue to increase based on his growth curve model.
“On track for $1 million per BTC as ‘fair value’ by 2035. That’s if we take the user growth curve as a guide for valuation. Remember I said fair value and not peak value in bull market hype.
Woo believes that Bitcoin is still early on in adoption, comparing the asset to the Internet’s adoption rate.
“Bitcoin is at 4.7% world adoption, this is the same as January 1999 for Internet adoption. You are still early and that’s backed by the best data available.”
Bitcoin is trading for $61,581 at time of writing, up 4% in the last 24 hours.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
Featured Image: Shutterstock/fotogestoeber
The post Bitcoin on Track To Explode by Over 1,500%, According to On-Chain Analyst Willy Woo – Here’s the Timeline appeared first on The Daily Hodl.