Cathie Wood had announced a few months ago that bitcoin would explode to a valuation of $1 million. While the crypto market is still under various pressures, the expert still believes that her projections will materialize.
Bitcoin boosted by uncertainty and volatility?
Bitcoin’s valuation will hit $1 million by the end of the decade. Cathie Wood is, today, still as convinced as a few months ago when she delivered this optimistic projection.
Of course, we are very far from that. Because if in April, the flagship crypto regained momentum, reaching $ 30,000, the evolution of its price is stagnating. This, after chaining a slow fall to be worth around $26,500 today.
This drop is undoubtedly linked to the rather unfavorable circumstances of the American crypto market. A deleterious context itself aggravated by these economic indicators in the red. Not to mention the threats posed by inflation and the possible default of the United States on their public debt.
For the boss of Ark Invest, these are precisely circumstances that will reinforce the scarcity and value of bitcoin. These elements, speculative to say the least, will be the determinants of the explosion in asset prices.
In a recent interview, Cathie reaffirmed her opinion on the surge in the price of bitcoin. A position that she has been defending since 2021 and which makes her say that BTC will reach $500,000 by 2026. Then $1 million at the end of the following four years.
Regulatory uncertainty and crypto market volatility will be the hallmarks of this growth. Because according to Cathie Wood, the asset is gaining more and more credibility. This is because it acts as an effective hedge against the financial threats represented by inflation and counterparty risk.
It must be said that she is not the only one to think that bitcoin will do well despite the headwinds. The pseudonymous tweeter Plan B also made similar prophecies. These will begin to happen as early as this year, according to analyst Credible.
Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of daily and weekly so you don’t miss any of the essential Tremplin.io!
