Cathie Wood's more positive outlook about Bitcoins future price

Bitcoin's price prediction:

 Cathie Wood's bold crypto price prediction, BTC will reach $650, 000 by 2030

 

Bitcoin's price stands at $98,353.35 USD, with a 24-hour trading volume reaching an impressive $105,729,816,369 USD. This marks a 3.78% increase in just the last 24 hours. From the end of October to November 18, Bitcoin saw a significant rise of 25%. Impressively, Bitcoin has more than doubled its value in 2024, boasting a 114% gain year-to-date.

Cathie Wood, speaking on CNBC's Squawk Box with host Andrew Ross Sorkin, shared her optimistic views on Bitcoin. Wood, who had previously set a $500,000 pricetarget for Bitcoin, now holds an even more positive outlook. She and her team of fund managers see Bitcoin reaching a base target of $650,000 by 2030. Furthermore, their most bullish estimates place Bitcoin's value between $1.0 and $1.5 million per coin by the same year.

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Wood's confidence in Bitcoin is backed by her firm's early adoption of the cryptocurrency. "We were the first public asset manager to gain exposure to Bitcoin in 2015 at $250," Wood remarked. "Even at $90,000, I believe Bitcoin has a long way to go." Her bullish stance is driven by a combination of favorable regulatory conditions, increased institutional investment, and historical pricing patterns post-mining reward halvings.

The incoming Trump administration's lighter cryptocurrency regulations are seen as a key factor in boosting Bitcoin's appeal to investors. Wood also pointed out that institutional investors are showing increasing interest in Bitcoin, which is likely to drive its price higher. Additionally, she noted that Bitcoin typically experiences significant price movements after the halving of mining rewards, a pattern that has repeated over the years, especially during periods of mild inflation.

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Wood highlighted that the most recent halving occurred six months ago, yet its impact on Bitcoin's market is still unfolding. With another halving set to happen in 2028, Wood believes that Bitcoin is poised for substantial growth well before the 2030 target. Her analysis suggests that these factors combined will propel Bitcoin's value to new heights in the coming years.