Analyst Willy Woo is bullish on Bitcoin (BTC) over the long term, predicting the crypto king will massively increase in value relative to the global gross domestic product (GDP).
Woo tells his 1.2 million followers on the social media platform X that Bitcoin could replace gold as “hard money” and could consequently go up 188x in two decades.
“My long-term target for BTC price is not dollars as that continues to be debased. My target is World GDP/21 million. Give or take +/- 50%. It will take the good part of two decades to get there…
…If it takes 20 years to get to equilibrium and the US dollar is still a leading currency, then $20 million per coin +/- 50%.”
In 20 years, the analyst says the global nominal GDP could nearly quadruple from the current level.
“Real GDP growth is 2%, while debasement is 5%.
So if we inflate GDP at 7% per year for 20 years measured in debasing US dollar, that would be $425 trillion or $20 million per coin give or take 50%.”
Over the shorter term, the analyst says Bitcoin is finding it “hard to move up” as there’s a high level of speculative activity in the market.
“NOW is a BAD TIME to take paper bets on BTC.
It’s open season on liquidation hunts due to high levels of betting.
BTC is waiting to purge the bets before the next swing of all-time highs.”
Bitcoin is trading at $105,074 at time of writing.
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