Willy Woo Shares Two Price Scenarios for Bitcoin (BTC): Says $700K is Possible, Explains How to Reach It!

Analysts Bitcoin He uses many indicators and gauges when trying to predict the price. At this point, popular analysts Willy Woo predicted that Bitcoin could reach $700,000.

Willy Woo, in his post from the X account, stated that Bitcoin could reach $700,000 with increasing institutional adoption.

Using the allocation ratio of global wealth assets in his estimate, Woo made two estimates, a minimum and a maximum, depending on how much of all global wealth assets exceeding $500 trillion will be allocated to BTC.

at this point The analyst claimed that according to “simple math,” the lower band for Bitcoin could be $700,000, while the upper band could be $24 million per BTC.

Woo said that $24 million “will not happen immediately” because for that level, all of the $500 trillion worth of wealth in the world would need to be invested in Bitcoin.

Accordingly, Woo is in Bitcoin He stated that a portfolio allocation of 3 percent is ideal and reasonable for now, and argued that a 3 percent allocation could push the BTC price to the $700,000 level.

“Even in the early stages of adoption, Fidelity is recommending a 1-3% allocation to Bitcoin, we have seen figures as high as 85% from BlackRock.

Assuming 3% here is a reasonable allocation for BTC, the lower bound of the price valuation is $700,000.”

Bitcoin Adoption Needs to Exceed 16 Percent!

Finally, Woo said that for Bitcoin to reach $700,000, both the global allocation needs to be 3 percent and the adoption curve needs to exceed 16 percent.

Woo noted that according to the Beninsenme S-curve chart, global BTC adoption has reached 4.7% so far, and when the Beninsenme S-curve enters the region between 16% and 50%, the price could reach $700,000 levels.

Although Bitcoin has only achieved 4.7% adoption globally to date, experts believe that the adoption rate could accelerate similarly to the internet, as institutional demand from spot Bitcoin ETFs could boost its price and adoption.

Nobody knows what the ultimate price of #Bitcoin will be but simple maths can give us an upper bound. All wealth assets is $500T, if BTC captured all of this (never gonna happen) it’s $24m per coin (today’s value before future inflation adjustment).

The question is what will be…

— Willy Woo (@woonomic) August 1, 2024

*This is not investment advice.