Willy Woo, a well-known on-chain analyst and long-time Bitcoin advocate, claims that if authorities properly regulate the cryptoasset, BTC’s market capitalization will certainly climb to $20 trillion.
Woo projected that Bitcoin’s market capitalization might reach $20 trillion in the next one to two decades during a recent interview on The Jay Gould Show.
According to The Daily Hodl, he stated,
“I think it [Bitcoin’s market cap] will be more. Maybe close to $20 trillion.”
Despite being upbeat about Bitcoin’s prospects, Woo believes the market size will ultimately be determined by the impact of future legislation.
Then, He said that there were many “unknowns” at the moment. Then, and that Bitcoin’s price trajectory in the next years will be determined by how things played out on the regulatory front.
The impact of central banks on cryptoassets varies around the world, according to Woo. He said that governments in Europe have had a negative impact on Bitcoin’s price by spreading
“fear, uncertainty, and doubt” (FUD) about cryptocurrency.
So, He explains to Gould,
“The central bankers, particularly in Europe, are dooming Bitcoin and there’s a lot of FUD right now. I think how that resolves matters. “
Woo cautioned that if central banks don’t handle Bitcoin properly, it won’t be able to reach its full potential. He predicted that Bitcoin will be restricted to a
“good attempt” in the form of a $1 trillion market cap. Of course, with investors treating it as an exotic or alternative asset rather than a dominating financial instrument.
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