{"id":25287,"date":"2023-12-28T01:26:37","date_gmt":"2023-12-28T01:26:37","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/on-chain-analyst-willy-woo-forecasts-bitcoins-etf-approval-impact\/"},"modified":"2023-12-28T01:26:37","modified_gmt":"2023-12-28T01:26:37","slug":"on-chain-analyst-willy-woo-forecasts-bitcoins-etf-approval-impact","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/on-chain-analyst-willy-woo-forecasts-bitcoins-etf-approval-impact\/","title":{"rendered":"On Chain Analyst Willy Woo Forecasts Bitcoin&#8217;s ETF Approval Impact"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>Popular on-chain analyst Willy Woo recently shared insights on Twitter about Bitcoin\u2019s promising future, especially in light of potential ETF approvals in 2024. He outlined several interesting scenarios:<\/p>\n<p>He regards the changes in Bitcoin\u2019s realized cap, which tracks the capital stored in the Bitcoin network, as one of his favorite on-chain metrics. Currently, there\u2019s a noticeable increase in capital inflow into the network.<\/p>\n<p>On the brink of the BTC spot ETF\u2019s introduction, the analyst foresees a significant shift in Bitcoin\u2019s role in wealth management. He predicts that when <a href=\"https:\/\/igaming.org\/cryptocurrencies\/section\/what-is-a-bitcoin\/\">Bitcoin<\/a> becomes a standard part of wealth portfolios, the top 1% of wealthy individuals will own an average of 0.87 BTC, highlighting the digital currency\u2019s scarcity. This estimation is based on a 5% allocation assumption.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>177% up to 5BTC + 77 <strong> Free Spins<\/strong>!<\/strong> <\/p>\n<p>New players only. Exclusive Welcome Bonus of 177% + 77 Free Spins <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>In response to a query from a private banker about potential Bitcoin prices, Woo provided some \u201cback of the envelope\u201d estimates using 2023 data:<\/p>\n<ul>\n<li>If Bitcoin\u2019s market cap reaches that of gold, the price could soar to $710k per Bitcoin.<\/li>\n<li>Should 5% of all wealth be invested in Bitcoin, its price might hit $1.1 million.<\/li>\n<li>In an extreme case where half of all wealth is in Bitcoin, the upper bound price could reach a staggering $11.5 million.<\/li>\n<\/ul>\n<p>The possibility of 5% of all wealth being invested in Bitcoin isn\u2019t far-fetched. Currently, there are around 600 million adults with a net worth over $100k, controlling 85% of all wealth. With over 300 million investors already in Bitcoin and the number growing rapidly, this scenario is becoming more plausible.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/on-chain-analyst-willy-woo-forecasts-bitcoins-etf-approval-impact\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) Popular on-chain analyst Willy Woo recently shared insights on Twitter about Bitcoin\u2019s promising future, especially in light of potential ETF approvals in 2024. He outlined several interesting scenarios: He regards the changes in Bitcoin\u2019s realized cap, which tracks the capital stored in the Bitcoin network, as [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":25288,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25287"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=25287"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25287\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/25288"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=25287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=25287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=25287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}