On-chain analyst Willy Woo Bitcoin (BTC) He thinks it could become a $20 trillion asset class, with market value over time worth more than 20 times its current value.
Speaking in a new interview he attended, Woo thinks that the market value of Bitcoin (BTC) could reach $20 trillion in the next 10 to 20 years.
bitcoin price Currently trading at $ 43,936, its total market value is around $ 830 billion.
On-chain analyst, on the other hand, thinks that Bitcoin market value will increase much more depending on its relationship with regulators. According to the analyst, if the regulators view the environment more ‘positively’, there may be a rise, but the situation is quite uncertain at the moment.
On the other hand, Woo thinks that especially European regulators create fear, uncertainty and doubt that will negatively affect Bitcoin.
“Central banks, especially the European ones, are wreaking havoc on Bitcoin right now and there is so much FUD (fear, uncertainty, doubt) right now. I think this issue should be resolved.”
The head of the European Central Bank, Christine Lagerde, described Bitcoin as “extremely open to speculation” in a statement in 2021, and described this sector as “a fun business” and suggested that Bitcoin be regulated.
Last month, Erik Thedeen, vice president of the European Securities and Markets Authority, called for a ban on Bitcoin mining activities in European Union member states.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.