Crypto:
30336
Bitcoin:
$65.098
% 0.23
BTC Dominance:
%54.2
% 0.09
Market Cap:
$2.37 T
% 0.16
Fear & Greed:
60 / 100
Bitcoin:
$ 65.098
BTC Dominance:
% 54.2
Market Cap:
$2.37 T

Bitcoin Price Could Reach $1 Million by 2035, Analyst Says, Pointing to User Growth

Bitcoin

A cryptocurrency analyst believes that Bitcoin (BTC) could reach $1 million thanks to the growth of its user base.

According to a post by Willy Woo, Bitcoin’s user growth curve suggests that the price could rise to $1 million by 2035.

In its early days, Bitcoin’s price did not directly reflect the number of users. Woo said, “BTC didn’t even have a price until it reached its 1,000th user.”

Price discovery for Bitcoin began with the establishment of platforms like New Liberty Standard and Mt. Gox, and a value began to be assigned to Bitcoin with the establishment of the Bitstamp exchange in 2011.

Woo said, “The price has fluctuated largely according to the increasing number of users since 2012.”

Based on blockchain data and studies on cryptocurrency exchanges, Woo estimates that there are currently 426 million Bitcoin holders and that this number will reach half a billion by October 2024.

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