Willy Woo expects bitcoin at $1 million by 2035

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Popular cryptocurrency analyst Willy Woo believes bitcoin could reach $1 million by 2035.

This prediction is obtained by taking the user growth curve for valuation. What is meant here is fair value, not peak value during a bull market frenzy. After bitcoin's emergence, the price didn't catch up with the number of users as quickly. Bitcoin didn't trade at all until it had its thousandth user. It was only after the emergence of cryptocurrency exchanges, the launch of Bitstamp in 2011, that global venues emerged to value the asset. After 2012, the price of BTC largely corresponded to the growth in the number of users.

Willy Woo emphasized that right now, bitcoin adoption is still in the early stages. According to him, only 4.7% of people have used bitcoin. This corresponds to the spread of the Internet in 1999.

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