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Bitcoin To See A Boom Of Over 4,600%

The optimistic prediciotns about Bitcoin continue, and the latest ones are pretty bullish. Check out the latest news below.

Bullish Bitcoin predicitons are out

The founder and CEO of investment management firm ARK Invest, Cathie Wood, has just doubled down on her fiercely bullish forecast for Bitcoin (BTC).

She was recently asked in a new Bloomberg interview whether ARK Invest is still “holding on to the $1 million forecast.” Wood answers that yes.

According to Wood, Bitcoin could go above $1 million by 2030 – this is an increase of over 4,600% from the current price.

“Oh yes. More than $1 million… by 2030.”

Bitcoin is trading at $20,676 at time of writing.

Bitcoin mass adoption

Regarding Bitcoin adoption by institutional investors, Wood said that the drop in the king coin’s price by around 70% from its all-time high is triggering increased interest from the hallowed class of investors.

“It does appear that institutions are moving in. They’re taking this price decline from nearly $70,000 to roughly $20,000 as an opportunity to move into a new asset class.”

She also said that institutional investors’ interest in Bitcoin was piqued by the Boston, Massachusetts-based investment advisory firm Cambridge Associates four years ago.

“In 2018 Cambridge Associates, which is a consultant for the institutional space, basically said to its clients, ‘okay you may not like this thing called Bitcoin, it may sound like a Ponzi scheme to you, but it’s acting like a new asset class.’”

Crypto market in today’s world

The other day, we revealed that Changpeng Zhao, CEO of Binance, believes in the stability of cryptos amidst a global downturn in both the equities and the crypto market.

During an interview at the Web Summit in Lisbon, Portugal, Zhao addressed his bullish view of cryptos despite the crypto winter that saw Bitcoin (BTC) shed over 74% off its all-time high. Check out our previous article to learn more details.

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