Popular on-chain analyst Willy Wu strongly believes that Bitcoin (BTC) will eventually reach a seven-digit price.
Wu told his 1.1 million followers on social media platform X that he believes Bitcoin's value will soar to $1 million in the next few years.
According to analysts, BTC price of $1 million will have a lasting impact, change Global landscape.
“What a great time to be alive. BTC reaching $1 million could easily happen within the next 10 years. The ramifications will be long-lasting…
– BTC will be the key currency
– Purge central bank corruption
– War is expensive.
– Young leaders build the future in which they live. ”
Earlier this month, Wu said that based on increasing global adoption, BTC's fair value will rise to $1 million by 2035.
But for now, analysts say on-chain metrics are showing bullish signs for BTC. Woo first examines his BTC risk signals on the network, where he compares flows and price movements.Previously an analyst I got it. When the risk signal is low, it is bullish for BTC.
“Bitcoin’s risk signal has fallen below its highs, which is almost always bullish.”
Taking a closer look at network flows, Wu says the indicators are turning green again for the crypto tycoon.
“If you squint just enough*, early signs of inflows into the Bitcoin network are increasing again. We will probably need another week to properly confirm this trend reversal.
The light blue color is the net flow from the US spot ETF (exchange traded fund). ”
At the time of this writing, Bitcoin is trading at $61,095.
Never miss a beat – Subscribe to get email alerts delivered straight to your inbox
Check price action
follow me XFacebook and Telegram
Surf the Daily Hoddle Mix
 
Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated image: Mid Journey
