bullish

Bitcoin

when

Adam Back

<p>Cathie Wood, the founder and CEO of ARK Invest, projected an exceptionally bullish future for Bitcoin. She suggested that the Bitcoin price could escalate to between $650,000 and $1.5 million by the year 2030 when she spoke to CNBC.</p> 
<p>Wood’s prediction hinges on her belief in widespread adoption and technological advancements that could further integrate Bitcoin into global financial systems.</p> 
<h2 class="wp-block-heading" id="h-this-btc-price-forecast-is-not-a-shot-in-the-dark-wood"><strong>This BTC Price Forecast is Not a Shot in the Dark: Wood</strong></h2> 
<p>Wood explained that her forecast is not just a shot in the dark but is based on detailed modeling that takes into account various factors, including increased institutional interest, the asset’s deflationary aspects, and its growing acceptance as a legitimate hedge against inflation.</p> 
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Cathie Wood calls for a $650k – $1.5 million Bitcoin price by 2030 <a href="https://t.co/naFuY5RBOX">pic.twitter.com/naFuY5RBOX</a></p>— Bitcoin News (@BitcoinNewsCom) <a href="https://twitter.com/BitcoinNewsCom/status/1857478181147582472?ref_src=twsrc%5Etfw">November 15, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>She emphasized Bitcoin’s unique qualities as a decentralized, capped supply asset, which could drive its value significantly as demand increases against a limited supply.</p> 
<p>This optimistic outlook by one of the industry’s most respected figures could potentially shift investor sentiment and strategy. It could lead to increased entry into the cryptocurrency market from both retail and institutional investors.</p> 
<p>Wood’s views often influence market trends. Besides, her latest statements could spur serious discussions about the long-term valuation of digital assets like Bitcoin.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-price-predictions-2024-by-top-financial-experts"><strong>Bitcoin Price Predictions <strong>2024</strong></strong> <strong>by Top Financial Experts</strong></h2> 
<p>Recent forecasts have lit up the crypto community, promising a dynamic financial landscape for Bitcoin in 2024. Leading the optimistic Bitcoin projections is Cathie Wood.</p> 
<p>Close behind, Mike Novogratz has pegged his expectation at $500,000, signaling a strong belief in Bitcoin’s long-term value.</p> 
<p>Tim Draper, another heavyweight in the investment world, has set his sights on a $250,000 target, while Max Keiser suggests Bitcoin could hit $220,000.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img loading="lazy" decoding="async" width="663" height="900" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImagekeyOoh.jpg" alt="Bitcoin's 2024 price predictions | Source: X" class="wp-image-837418" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImagekeyOoh.jpg 663w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImagekeyOoh-221x300.jpg 221w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImagekeyOoh-150x204.jpg 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImagekeyOoh-300x407.jpg 300w" sizes="auto, (max-width: 663px) 100vw, 663px">
  <figcaption class="wp-element-caption">
   <em>Bitcoin’s 2024 price predictions | Source: X</em>
  </figcaption>
 </figure>
</div> 
<p>Fundstrat remains slightly more conservative but still bullish, predicting a $180,000 ceiling. Even the banking giant Standard Chartered foresees a significant rise to $120,000.</p> 
<p>On the lower end, Robert Kiyosaki and Adam Back both agree on a $120,000 valuation. Meanwhile, lesser-known but still confident, Jesse Myers and Arthur Hayes see Bitcoin reaching $100,000 and $70,000, respectively, which have been achieved or vary within reach.</p> 
<p>Berenberg and JP Morgan, typically more cautious, estimate Bitcoin will reach $56,600 and $45,000, respectively, anchoring the broader spectrum of predictions.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-etfs-saw-outflows-of-3-476-btc-worth-312-04m"><strong>Bitcoin ETFs Saw Outflows of 3,476 BTC, Worth $312.04M</strong></h2> 
<p>On the investment front,&nbsp;<a href="https://www.thecoinrepublic.com/2024/11/12/bitcoin-mvrv-deviation-bands-signal-uptrend-whats-next/">Bitcoin</a>&nbsp;ETFs experienced significant outflows, with a total of 3,476 BTC (approximately $312.04 million) withdrawn on November 15th.</p> 
<p>Among them, Fidelity reported the largest outflow, losing 2,032 BTC valued at around $182.38 million. However, it held a substantial reserve of 192,593 BTC at press time, worth an estimated $17.29 billion.</p> 
<p>In contrast, Ethereum ETFs saw an uptick in investor interest, with net inflows totaling 4,786 ETH (valued at $14.75 million).</p> 
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Nov 15 Update:<br><br>10 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> ETFs<br>NetFlow: -3,476 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>(-$312.04M)<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f534.png" alt="🔴" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/Fidelity?src=hash&amp;ref_src=twsrc%5Etfw">#Fidelity</a> outflows 2,032 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>($182.38M) and currently holds 192,593 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>($17.29B).<br><br>9 <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> ETFs<br>NetFlow: +4,786 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>(+$14.75M)<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f7e2.png" alt="🟢" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/BlackRock?src=hash&amp;ref_src=twsrc%5Etfw">#BlackRock</a>(iShares) inflows 6,059 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($18.67M) and currently holds 586,803… <a href="https://t.co/IXJuB09GoM">pic.twitter.com/IXJuB09GoM</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1857440008996790701?ref_src=twsrc%5Etfw">November 15, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Leading this positive shift was BlackRock’s iShares, which received an influx of 6,059 ETH, worth $18.67 million. That increased its holdings to 586,803 ETH (approximately $1.81 billion).</p> 
<p>The stark difference in flow dynamics between Bitcoin and Ethereum ETFs highlights a divergent investor sentiment across major cryptocurrencies. It suggests varying strategies and confidence levels within the digital asset space.</p> 
<p>As 2024 approaches, these movements underscore the complex and rapidly changing nature of cryptocurrency investments.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/11/18/cathie-wood-calls-1-5m-bitcoin-price-by-2030-too-optimistic/">Cathie Wood Calls $1.5M Bitcoin Price By 2030: Too Optimistic?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Cathie Wood Calls $1.5M Bitcoin Price By 2030: Too Optimistic?

Table of Contents

Thecoinrepublic.com

Other articles published on Nov 18, 2024

Polter Finance Loses Over $7 Million in Crypto Hack on Fantom Blockchain

BTC, ETH and XRP Price Prediction for November 18

Adam Back Predicts A Seven-Figure Bitcoin Price If The U.S. Strategic Reserve Materializes, Boost...

MARA Holdings Launches $700M Notes Offering to Expand Bitcoin Holdings and Cut Debt

BANGK: THE BIG BANG OF INNOVATIVE AND RESPONSIBLE FINANCE

OKX launches zero-fee Singapore dollar transfers via PayNow, FAST

Join our free newsletter for daily crypto updates!