Highly popular on-chain analyst Willy Woo predicts that in the next few years, when cryptocurrency ETFs are fully deployed, the value of Bitcoin at the bottom of a bear market could reach $91,000, while at the top of a bull market, the value of Bitcoin could reach $650,000.
As the Bitcoin spot ETF in the United States continues to attract a large influx of funds, news has emerged that the regulatory authority in Hong Kong has also approved Bitcoin and Ether spot ETFs. In response to this, Willy Woo posted on the social media site “X” discussing the impact of spot ETFs on Bitcoin prices. He explained:
“These are very conservative estimates. When ETFs fully play their role, the market value of Bitcoin will definitely surpass that of gold.”
However, Willy Woo pointed out that his price estimates are not targeted for this bull market cycle because “it will take a long time for the funds to complete deployment.”
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Willly Woo explains that asset management companies manage around $100 trillion, and as an example, Fidelity usually recommends allocating 2% of investment portfolios to Bitcoin spot ETFs. He said, “This figure will increase over time, but the most optimistic scenario now is that $2 trillion is allocated to Bitcoin.”
The analyst emphasized that this represents a capitalization of Bitcoin ranging from a maximum of $12.8 trillion to a minimum of $1.8 trillion, meaning that the top of the price range is $650,000 and the bottom is $91,000.
Willy Woo also stated that he excluded larger self-custody funds currently in circulation. He concluded, “When asset managers have fully deployed their funds, Bitcoin will undoubtedly surpass the market value of gold. After the approval of gold ETFs, there was a 12-year bull market. Now it’s Bitcoin’s turn.”
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