As a seasoned crypto investor with a knack for spotting trends and understanding market dynamics, Cathie Wood’s insights always pique my interest. Having entered the Bitcoin game back in 2015 when it was trading at $250, her conviction in its potential growth is undeniably impressive.
Despite Bitcoin reaching an unprecedented peak of more than $90,000, Cathie Wood from ARK Invest suggests that it has plenty of room for further growth.
She noted that Ark was the pioneer public asset manager who acquired Bitcoin back in 2015 when it was worth $250, and she believes there is still a lot of room for growth given its current price of around $90,000; this was stated during an interview on CNBC’s Squawk Box on November 15.
Wood went on to clarify that the forward motion would largely depend on “easing of regulations,” a significant development stemming from the newly established government.
She mentioned that Bitcoin (BTC) is currently perceived as a distinct investment category. She further explained that it’s not just a global monetary system; instead, it represents a unique asset class. This means that financial institutions and investors are recognizing that this asset behaves differently from their traditional investments, so they feel the need to incorporate it into their portfolios.
Wood also reiterated her big price prediction over the next five years stating:
“We have a 2030 target in our base case, it’s around $650,000, in our bull case, it’s between $1 million and $1.5 million.”
On November 13th, BTC prices reached an unprecedented height of $93,477, as reported by CoinGecko. Since then, it hasn’t managed to surpass this level in its price exploration and dipped slightly a few days after the peak. However, during early trading on November 18th, it had climbed back over $90,000.
On November 16, Wood expressed, drawing from on-chain data and analysis, that the Bitcoin bull market appears robust, further stating:
“After its halving in April, growth in the supply of Bitcoin dropped to 0.9%, below the long-term growth in the supply of gold for the first time!”
In a video shared on X on November 11th, Wood expressed that weakening financial regulators like the Securities and Exchange Commission, along with emphasizing technological advancements in areas such as artificial intelligence, digital assets, and others, could potentially significantly boost the American economy.
Read More
- GBP EUR PREDICTION
- Rumoured The Elder Scrolls 4: Oblivion Remake Dev is Working on an “Unannounced Unreal Engine 5 Remake”
- HBAR PREDICTION. HBAR cryptocurrency
- CNY RUB PREDICTION
- SEI PREDICTION. SEI cryptocurrency
- ICP PREDICTION. ICP cryptocurrency
- The DCU Is Better Off Without More Batman Movies for Awhile
- INJ PREDICTION. INJ cryptocurrency
- Razer’s new cooling pad really does let you push your laptop to its limit, but wow, it’s loud!
- Wise Guy: David Chase Revisits The Sopranos in HBO Documentary Trailer
2024-11-18 06:51