Willy Woo, an analyst at Willy Woo & Associates in Singapore is bullish about Bitcoin (BTC). He predicts that the cryptocurrency king’s value will increase massively relative to global GDP.
Woo told his 1.2m followers on social media platform X, that Bitcoin would replace gold in the form of “hard currency” and therefore could go up 188x within two decades.
My long-term goal for BTC is not the dollar, as it continues to devalue. The target I have set is the World GDP/21,000,000. Take or leave +/-50 %. The good part of 20 years will be needed to reach this goal.
“…if it takes twenty years to reach equilibrium, and the US Dollar is still the leading currency at that time, then 20 million dollars per coin plus/minus 50%.”
Analysts say that the nominal global GDP may quadruple in 20 years.
“If we debase the US dollar by 7% each year, then that’s $425 trillion. Or $20 per coin give/take 50%.”
The analyst said that Bitcoin was “finding it hard to move up”, as the level of speculation in the market is high.
“NOW would be a BAD time to place paper wagers on BTC.
The high level of gambling has opened the season for liquidation hunting.
BTC will purge bets prior to the next high-swing.
Bitcoin currently trades at $105,074 as of the time this article was written.
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Sources of Images include Pixabay Creative Commons & Midjourney
The post Willy Woo Unveils Bitcoin’s (BTC) Potential Path to an 188x Rally: Here is His Outlook could be updated as new information becomes available.
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