Bitcoin will go “much higher” over the next decade, says on-chain analyst Willy Woo — here’s why
Well-respected on-chain analyst Willy Woo says Bitcoin (BTC) is set to surge significantly over the next decade based on the current level of adoption.
Woo tells his 1.1 million Twitter followers that BTC isn’t even halfway down the S-curve of adoption, and the biggest growth is yet to come.
S-curves are used to visualize the trajectory of something, in this case the introduction of a technology that usually starts slowly before accelerating rapidly and eventually reaching equilibrium.
says woo
“Why will Bitcoin outperform in the next few decades?
Adopting the S-curve of money, which is half of everything.
It is currently 4% of the world population and the number will be much higher.”
Source: Willy Woo/Twitter
While Woo expects parabolic growth in the long term, he expects consolidation or possibly a price decline in the short term.
“Mean reversion forces are now dominating bitcoin price action.
Sideways or down is easier than up.
Fundamentals suggest we need a period of cooling to rebalance things.”
Source: Willy Woo/Twitter
Woo also recently said that a short squeeze, which occurs when a large number of traders who have been shorting an asset decide to cut their losses in response to an unexpected price increase, leading to further rallies, is in the works for BTC could.
“Price action has been largely dominated by demand originating from the calendar futures markets, the tool of professionals and institutions. Even now, demand continues to rise, suggesting we are in the early stages of further price pressure.”
Source: Willy Woo/Twitter
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