Bitcoin Price Prediction: Bitcoin Stays Strong above $30,000 as Cathie Wood Offers Support
The price of Bitcoin is currently trading at $30,095, experiencing a minor drop of less than 0.10% on Wednesday.
Despite this slight dip, Bitcoin remains resilient above the crucial $30,000 level, bolstered by the assurance from Cathie Wood of further support for BTC.
Notably, US Congressman Ritchie Torres has criticized SEC Chair Gary Gensler for his unfavorable stance on cryptocurrency, highlighting the success of Ripple as a counterargument.
The price of Bitcoin remains above $30,000, and Cathie Wood has expressed her belief that BTC has gained further support.
According to Wood, Bitcoin is an insurance policy, particularly in light of the March bank failures.
She praises the asset for its decentralization and transparency, emphasizing how these qualities mitigate the risk of severe recessions like the one experienced in 2008-2009.
In a Bloomberg interview, Cathie Wood revised her price estimate for Bitcoin to $1.5 million by 2030.
Wood attributes this projection to the growing trust in BTC within Ark Invest and labels it as the bull case, while providing a bear case estimate of $625,000.
Wood's unwavering faith in Bitcoin's potential is encouraging despite the excessively optimistic projection.
As one of the most respected voices in the crypto world, her optimism helps solidify Bitcoin's status as a revolutionary asset.
Wood's remarks have also helped prevent further losses in BTC value.
US Congressman Ritchie Torres has criticized SEC Chair Gary Gensler for what he perceives as unjustified attacks on cryptocurrencies.
Torres specifically pointed to the recent victory by Ripple Labs and urged Gensler to acknowledge the clarity provided by the court decision.
The congressman believes that the SEC should focus its efforts
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