ARK Invest CEO Remains Confident That Bitcoin Price Will Hit $1 Million by 2030

In a recent interview, Catherine Wood, Founder, CIO, and CEO at ARK Investment Management, LLC (aka “ARK” or “ARK Invest”), recently shared her thoughts on Bitcoin and Ethereum. Wood's comments were made on Wednesday (23 November 2022) during an interview with Carol Massar and Tim Stenovec on Bloomberg Businessweek Radio.

Timeline of Bitcoin

If a no-coiner friend or relative asked you this question, how would you answer? It is worth bearing in mind that so far this year, the Bitcoin price (trading around $16,430 as of 8:50 a.m.

As the Bitcoin market faced turmoil surrounding the possible bankruptcy of Genesis Trading and Digital Currency Group (DCG), chatter kept surfacing that Michael Saylor's and MicroStrategy's Bitcoin bet could be in jeopardy if the price continues to fall.

Bitcoin and Ethereum ended two-day rallies as both coins fell slightly, although prices held at crucial support levels following indications the US Federal Reserve will soon slow down the pace of interest rate rises. Bitcoin, the largest coin by market cap, fell 1.5% to US$16,443.

 Bitcoin has continuously dropped over the last couple of weeks, largely due to the FTX crash Institutional investors like the Purpose Bitcoin ETF Holdings have not yet bought back despite the discount. The latest Bitcoin (BTC) crash has done more harm than good to investors' sentiment.

The crypto markets have turned extremely volatile and uncertain ever since the popular exchange FTX collapsed and created a ripple of fallouts. Meanwhile, Bitcoin and popular altcoins attempted to begin with a recovery phase, but the bears perceived the fact of their growing dominance despite minor bounces.

On November 25, Bitcoin, the leading cryptocurrency, failed to break above the $16,800 level and began to fall toward the 38.2% Fibonacci retracement level. Similarly, Ethereum, the second most valuable cryptocurrency, has followed Bitcoin's lead and is currently trading bearishly toward $1,160.

JAN3 CEO Samson Mow argues that Argentina should offer Bitcoin bonds and transition to using Bitcoin as a legal currency. The post Should Argentina Offer Bitcoin Bonds to Follow El Salvador?

As exchanges increased the supply of BTC by selling paper Bitcoin, questions of market manipulation have started to emerge. The post Is the US SEC Trying to Manipulate the Bitcoin Supply?

Belgium's take on what conditions must be met in order for a crypto asset to be classed as a security are in contrast to the views of U.S. Securities Exchange Commission Chairman Gary Gensler.

A popular cryptocurrency analyst has predicted a “massive bull run” is set to be seen in the near future after the flagship cryptocurrency Bitcoin ($BTC) formed a bottom pattern that was last seen back in 2015.