“$1 Million by 2030” – Astounding Bitcoin Price Prediction Revealed
Bitcoin
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Bitcoin’s price has been hit by shock stock market collapses and a looming regulatory crackdown, wiping about $2 trillion from the combined crypto market that some believe is “heading toward oblivion.”
Now, one of the most bullish bitcoin voices has issued a huge bitcoin price prediction, predicting that the bitcoin price will explode to a massive $1 million per bitcoin by 2030, even as a new crisis threatens to engulf the crypto market.
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The Bitcoin price has fallen sharply over the past year, wiping out confidence in bitcoin and otherwise … [+]
“We think bitcoin will come out of this smelling like a rose,” said Ark Investment Management CEO Cathie Wood. Bloombergfollowing the sudden implosion of major bitcoin and crypto exchange FTX this month.
Bitcoin supporters have argued that bitcoin is uniquely insulated from the current crypto crisis, arguing that its decentralized nature and fixed supply of 21 million bitcoins sets it apart from other cryptocurrencies and the problems faced by crypto companies.
“You have to go through crises to see the survivors and battle test the infrastructure and the task,” Wood said.
Ark, a big supporter of Elon Musk’s Tesla and other high-growth tech stocks, has bet big on bitcoin, other cryptocurrencies and crypto companies in recent years, doubling down during this year’s brutal bear market.
Wood also predicted that institutional investors who have been waiting on the sidelines of the bitcoin and crypto market for years will feel able to jump into bitcoin and even ethereum, the second largest cryptocurrency after bitcoin.
“Once they actually do their homework and see what’s happened here, I think they might actually be more comfortable moving into bitcoin, and maybe ether, as a first stop because they’ll understand it more,” Wood said.
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Bitcoin price has crashed below $17,000 per bitcoin this year, plunging from nearly $70,000 in … [+]
This week, the bitcoin price has struggled to recover from its FTX-induced crash this month, with market watchers predicting that “major players” could forget bitcoin for “a few years” due to the failure of FTX and other major crypto companies.
“Bitcoin has failed to fully capitalize on the inverse head-and-shoulders pattern,” FxPro senior market analyst Alex Kuptsikevich said in an emailed statement, pointing to technical bitcoin price trading data.
“Perhaps the reason for that is the lack of major players due to the holidays. However, chances are that it is still due to the ongoing cautious selling in the sector: the major players continue to reduce their positions, and probably forget about it. again for a couple of years.”
