Willy Woo bases his forecast on the graph of the Bitcoin exchange rate and the number of users of the first cryptocurrency. He expects Bitcoin to continue to increase its penetration into various areas of daily life, which means the number of users will increase.
“By 2035, we expect that the fair value of Bitcoin will reach $1 million. This forecast is obtained if we take the user growth curve for evaluation. And I'm talking about fair value, not peak value during the rush of a bull market. After the introduction of Bitcoin, the price did not catch up with the number of users so quickly. Bitcoin was not traded at all until the thousandth user appeared. And only after the advent of cryptocurrency exchanges, the launch of Bitstamp in 2011, global platforms for assessing assets appeared. After 2012, the price of BTC largely corresponded to the growth in the number of users,” wrote a cryptocurrency analyst.
At the same time, Willy Wu emphasized that the adoption of Bitcoin is still at an early stage. According to him, only 4.7% of people used Bitcoin. This corresponds to the spread of the Internet in 1999.
Willy Woo recently said that young investors simply must invest in Bitcoin, because fiat inflation “eats up” all the profits from traditional investments.
Source: Bits
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