Bitcoin Price Prediction as $20 Billion Trading Volume Comes In – Can BTC Reach $30,000 This Month?
Bitcoin has been one of the most talked about topics in the finance world for the past few months. As more trading volume comes in and a growing number of investors enter the market, it's becoming increasingly difficult to predict where Bitcoin's price will go next.
On 2nd February, Cathie Wood, CEO of ARK Investment Management, revealed that they had not expected businesses and governments to adopt bitcoin as quickly as they have.
She and her team were surprised by the speed at which it has been embraced. Wood maintains her belief that Bitcoin will experience drastic growth in the near future. She projected that BTC will reach approximately $670,000 within 5 years.
On February 2, Cathie Wood, CEO of Ark Invest, revealed that her team had made a misjudgment in assuming the endorsement of cryptocurrencies by businesses and governments. She reported that her firm has invested heavily in Bitcoin, predicting that its value will grow exponentially.
Wood accepted that 2022 did not bring good news to the crypto market. But, in her view, those who lost money were centralized services such as FTX Exchange, as Bitcoin was and still is a global, automated digital currency based on established rules.
Wood is still confident in her prediction that Bitcoin will surge in worth over the coming years. According to her forecast, a single Bitcoin should cost around $670,000 within five years and might hit up to $1.48 million by 2030 - that's a whopping 6,326% appreciation from its current value.
Wood has recently changed her views on Bitcoin and now believes that wealthy individuals can benefit greatly by investing in it to protect their wealth from inflation. She admits that she was wrong in not having faith in the cryptocurrency.
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