Analyst Willy Woo: Bitcoin's future bear market low could reach $91,000
Bitcoin fundamental analyst Willy Woo predicts that with institutional funds fully embracing Bitcoin as part of their asset allocation, the future price range for Bitcoin could reach $650,000 and $91,000.
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Bitcoin to Experience a 12-Year Golden Cycle
Willy Woo emphasized that this rough estimate of the upper and lower bounds does not include inflows outside of ETFs. Usually, the inflow of self-custodied Bitcoin is much larger than that of ETFs, so this is a very conservative estimate.
He also predicted:
Once all ETF issuers have deployed, the market value of Bitcoin will definitely surpass that of gold. Gold experienced a 12-year bull market after the approval of spot ETFs, and now it's Bitcoin's turn.
However, Willy Woo pointed out that the price target is not for this cycle, as it takes a long time for capital deployment to complete.
The new #Bitcoin ETFs brings price targets of $91k at the bear market bottom and $650k at the bull market top once ETF investors have fully deployed according to asset manager recommendations***.
These are very conservative numbers. #Bitcoin will beat gold cap when ETFs have…
— Willy Woo (@woonomic) April 15, 2024