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Co-founder of Bitcoin Vector and investment fund CMCC Crest, Willy Woo, suggested that the current stagnation in Bitcoin’s price, characterized by sideways movement, will conclude in approximately 10 to 12 years.
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According to Woo, the next significant upward momentum for the leading cryptocurrency is not expected to occur until at least 12 to 16 years from now. He believes that during this period, Bitcoin’s price could reach seven-figure levels.
The entrepreneur outlined key indicators signaling the end of the bearish trend: a shift in investor sentiment towards active buying and an increase in the average entry price for the asset.
Willy Woo compared Bitcoin to gold as an asset. The co-founder of Bitcoin Vector believes that advancements in technology could diminish the significance of gold’s scarcity over the next 15 to 20 years.
The primary challenge for Bitcoin, according to the crypto entrepreneur, is the advancement of post-quantum computing. He stated that the network has five to ten years to adapt. Solving this issue, Woo believes, could enhance the competitive position of the leading cryptocurrency in the long run.
Previously, Willy Woo mentioned that the vast majority of crypto investors find themselves in a “pit of despair,” as the returns on their altcoin portfolios lag behind the performance of the leading cryptocurrency.
