For many years, a prominent figure closely followed by cryptocurrency investors has addressed the current situation. His latest predictions are motivating for investors as they suggest an upward direction. Cryptocurrency investors predicting a long-term upward trend are still not free from the concerns of short-term and medium-term risks.
Crypto Analyst Willy Woo’s Forecast
Willy Woo, a master name followed for years, used to comment on Bitcoin from its toughest days to its strongest periods. In his latest market analysis, Woo is finally confident that the BTC price will reach seven figures. The target of $1 million for Bitcoin, which has not yet surpassed $100,000, has been mentioned for years but was not taken very seriously.
Now, as spot Bitcoin ETF approvals are starting to be seen worldwide, Woo wrote;
“What a great time to be alive. BTC reaching $1 million in the next 10 years will easily happen. The following effects will be long-lasting…
– BTC is becoming a reserve currency
– Central bank corruption needs to be cleaned up
– Wars are becoming expensive
– Young leaders are building a future they want to live in.”
2035 Bitcoin (BTC) Target
At the beginning of May, Woo wrote that due to increasing global adoption, BTC’s fair value will reach $1 million in the next 11 years. Moreover, the short-term outlook is not that bad. The expert first looks at the risk signal that compares BTC’s network flows to price movements. These signals had previously yielded successful results in bullish predictions.
“Bitcoin risk signal recorded a lower peak, which almost always means a rise.”
Taking a closer look at network flows, Woo says this also indicates a rise.
“If I squint, there are early signs that flows into the Bitcoin network are increasing again. It might take another week to confirm this trend reversal. Light blue shows net flows from US Spot ETFs (exchange-traded funds).”
For now, Bitcoin continues to find buyers at $61,000, seemingly indifferent to Woo’s concerns.
