On-chain analyst Willy Woo explains why he believes BTC is an important step in the history of money.

Woo who said Earlier this week that Bitcoin whale movements are signaling a low point and outlined why he believes BTC is reinventing the monetary system.

Calling Bitcoin an event that only happens once in 10,000 years, Woo said the standard cryptocurrency will reshape the monetary system much like the advent of money in the agrarian age.

“The monetary base of civilization is about to be restored. More than reset – reinvented. People see this as … reinventing money – money is regenerated every 100 years. If you look at the time when money was invented, it was the age of agriculture, so we moved from inaction to actually using money in agriculture …

I think it’s the same. We are moving from the industrial age to the digital age, but you know, this is the first time since the agrarian revolution that money has really been created anew. It is an event that only happens once in 10,000 years. “

Believing that Bitcoin is the future of money, Woo expects BTC to hit $ 1 million in the future.

“Dan Held calls this a super cycle. I think this could be the last cycle. This means that at this point in time, Bitcoin no longer sees the strong marking of a four-year cycle, but makes more random movements and correlates strongly with the macro. Therefore, Bitcoin could do a random walk of up to a million dollars in a few years … “

Referring to PlanB, a crypto analyst who uses a stock-to-flow (S2F) model to predict Bitcoin’s short- and long-term performance, Woo said:

“The market capitalization of the highest earners corresponds to a ratio of 1: 1 to global GDP. $ 1 trillion? I think I agree with PlanB. PlanB’s goal is also one trillion US dollars. “

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According to Dailyhodl

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