Willy Woo, one of the leading cryptocurrency analysts, claimed that the involvement of actors such as world giants BlackRock and Fidelity in the market could move the price of #Bitcoin ( #btc ) to 310 thousand dollars.
In a recent social media post, Willy Woo suggested that approval of spot Bitcoin exchange-traded fund (ETF) applications from players like BlackRock and Fidelity could push the price to the $310,000 band. Supporting this prediction with the trillion-dollar assets under management of the companies in question, Woo made statements that excited investors.
In the table he shared in his post, the analyst points to the total assets of other major actors exceeding $27 trillion, including BlackRock's $9 trillion under management and Fidelity's $4.2 trillion, and says that if 5% of these assets are transferred to Bitcoin, the price will be $310,000. He emphasized that he will reach the level of
Woo suggested that the determining factor will be the market conditions under which this money will be transferred to Bitcoin. He stated that if the giant players take action in bear market conditions, the price can reach at least 128 thousand dollars, and if they take action in the bull market, it can reach 398 thousand dollars.
Although the U.S. Securities and Exchange Commission (SEC) has not yet approved a spot Bitcoin ETF, it has not received requests from such large players until now. It is thought that giant companies such as BlackRock and Fidelity can get what they want.
According to CoinGecko data, Bitcoin has a current value of $592 billion and the cryptocurrency market in general has a total value of $1.21 trillion. It is estimated that a new era will begin with companies with 27 times more assets under management entering the sector.
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