May 29, 2024
Bitcoin News

Bitcoin Could Reach Multitrillion Dollar Market, New Forecast From ARK Invest Says

There’s a mind blowing prediction about the price of Bitcoin that will definitely make your day, especially if you are a BTC maxi. Check out the latest amazing projection for the future of the king coin.

Bitcoin price prediction is out

A new forecast by Cathie Wood’s ARK Invest predicts that Bitcoin (BTC) will be able to reach a staggering multitrillion-dollar market.

The research paper, which is spreading through crypto Twitter after being shared by Bitcoin advocate DocumentingBTC, expands on Wood’s prediction. Just in case you don’t know it, it says that the crypto king will have a massive price tag of at least $1 million by the end of 2030.

The report lays out three scenarios that ARK believes the top crypto asset by market cap could follow.

“In its bear case, ARK Invest sees BTC with a price tag of $258,500, while the base case has the leading digital asset by market cap rising to $682,800. With 97% of Bitcoin expected to be mined at that time, those numbers would give Bitcoin a $5.3 trillion to a $13.9 trillion market cap, respectively.”

Here’s another case: this is a bullish case that has Bitcoin shooting to a price tag of $1.48 million by December 2030.

Bitcoin’s price trend could see a massive shift

It’s been just reported that the crypto analyst Benjamin Cowen says Bitcoin (BTC) is setting up for a potential trend shift. It’s important to note the fact that this could result in an explosive rally similar to the one in 2019.

In a new strategy session, Cowen said the fact that three different technical indicators are converging at a key price level for Bitcoin.

As the online publication the Daily Hodl notes, the 50-week moving average is on a downward trend, and the 200-week moving average is on an upward trend. These are both moving toward one another. The two moving averages appear likely to meet at BTC’s recent high of around $25,000. Check out the previous article that we shared in order to learn more details.

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