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Catching up with the development of the Internet, may BTC users exceed 1 billion in 2025?

王林
Release: 2024-03-16 10:10:16
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BTC is the leader in the Crypto asset industry, and analysts predict that its adoption will grow exponentially.

Well-known analyst Willy Woo believes that BTC is about to make a huge leap and is expected to catch up with the development trajectory of the Internet from 1997 to 2005.

Woo said that this earth-shaking transformation of BTC has been brewing for many years.

Therefore, Woo asserts: “By the end of this cycle (that is, 2025), 1 billion people will own BTC.”

Woo emphasized that the adoption of digital currencies is accelerating , surpassing the early Internet.

Given Bitcoin’s widespread acceptance around the world, cryptologist Adam Back believes the market is aiming higher, calling $100,000 a “long overdue goal.”

Back said: "BTC reached $73,000 on Tuesday, and no one said anything. It spent most of Wednesday above $73,000."

I think the reason for the depressed Bitcoin price is that expectations It's long overdue to hit $100,000, a goal that should have been achieved years ago. So when Bitcoin prices hovered between $1,000 and $5,000, there was no bullish frenzy.

Catching up with the development of the Internet, may BTC users exceed 1 billion in 2025?

Interestingly, the catalyst behind this BTC price prediction is primarily attributed to institutional demand.

CryptoQuant CEO Ki Young Ju pointed out that if institutional funds continue to inflow, a "sell-side liquidity crisis" is coming.

The surge in demand, coupled with the successful launch of spot BTC ETFs in the United States, validates BTC as a viable institutional investment and introduces a pattern in which demand may soon exceed supply.

In fact, the spot BTC ETF has become the most successful exchange-traded fund in history, amassing nearly $30 billion.

As Ki explained, this influx could trigger a price shock from supply. This situation occurs when the available BTC cannot meet the growing demand.

Net inflows into spot ETFs last week exceeded 30,000 BTC, further exacerbating the potential liquidity crisis.

Catching up with the development of the Internet, may BTC users exceed 1 billion in 2025?

Additionally, Ki’s analysis revealed how wallets that only receive transactions accumulate BTC.

This upward trend in accumulating BTC indicates that hoarding of BTC is increasing, and if this trend continues, it may signal the beginning of a liquidity crunch for sellers.

As BTC’s adoption curve climbs steeply towards the 1 billion mark, the interplay between escalating demand (especially from institutional investors) and reduced supply could catalyze an unprecedented price shock.

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source:panewslab.com
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