Willy Woo believes that large financial funds and companies should maintain the adoption curve of the first cryptocurrency so that it reaches 16%. In this case, you can count on a significant increase in the bitcoin exchange rate.
"The lower bound of the asset's valuation will be $700,000 if large institutional investors who manage capital continue to support bitcoin," the expert said.
According to Willy Wu, the price of bitcoin may reach a new historical high in September 2024. And if the adoption curve exceeds 50%, then the value of the first cryptocurrency will exceed the wildest forecasts.
The cryptanalyst noted that bitcoin took more than 15 years to be accepted by about 5% of the world's population, but now the pace can accelerate several times thanks to the support of investors and politicians.
Earlier, Willy Wu said that the market will most likely never see the bitcoin exchange rate below $30,000 while maintaining the current level of coin acceptance.