Here is Why We Can Expect Bitcoin’s Price to Skyrocked, According to Analyst

Popular crypto analyst Willy Wu has predicted that Bitcoin (BTC) could potentially rise over 975% from its current price.

Wu suggests that Bitcoin could capture 3% of total global assets, which could send it to a valuation of around $700,000 for BTC.

He explained that total global assets amount to $500 trillion. If Bitcoin manages to capture even a fraction of that, its value will increase significantly.

Furthermore, the analyst believes Bitcoin will reach a six-figure price if its global adoption reaches between 16% and 50%, compared to the current adoption level of 4.7%.

READ MORE:

Here is Why We Can Expect Bitcoin’s Price to Skyrocked, According to Analyst

He referred to the S-shaped adoption curve that tracks how quickly new technologies are adopted, noting that 16% marks the early majority and 50% the late majority.

So now everyone is asking when. This is also a well known phenomena via the adoption S-curve.

16% is early majority, 50% is late majority. Wealth management is somewhere in this sector.

So figure out when BTC adoption enters 16%-50% world adoption based on the yellow line. pic.twitter.com/e61FvcKlVw

— Willy Woo (@woonomic) August 1, 2024

Woo also shared a graph comparing Bitcoin’s adoption rate to that of the internet, illustrating potential growth patterns. He suggests that as Bitcoin’s market cap exceeds all fiat currencies, investors will turn to finding investments that outperform Bitcoin.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.