“We will likely never see Bitcoin go below $30,000 again if the chain design continues,” said Willy Woo.
The analyst published a graph of Bitcoin price changes over 13 years. Whenever BTC had a bear market exit or halving, “the price never returned,” Wu comments on the picture.
“Why “only up”? Over the 13 years of this chart, we have seen widespread adoption of BTC. In 2010, the network had 10,000 users; today it is used by more than 300 million people. This figure will only grow thanks to the spot ETF,” the crypto expert is confident.
According to Bernstein analysts, Bitcoin will become a global macro asset in the future with a market capitalization of more than $3 trillion. Cryptocurrency fundamentals have never looked better, experts say. Thus, 70% of the available BTC supply did not move from one wallet to another during the year.
However, experts from the analytical division of the Bitfinex cryptocurrency exchange – Bitfinex Alpha – warned that after recent surges in price, Bitcoin could fall to $30,000.
Source: Bits
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