"And while Wood, who's enjoying a magnificent comeback year for hyper-growth technological innovators with disruptive potential, has technically lowered the bar on her longer-term price target on Bitcoin, now calling for $1.2 million instead of $1.5 million in 2030, there's still ample upside to be had if Bitcoin is to make a move that takes it anywhere close to Wood's new target."
"Today, Bitcoin goes for just north of $101,000, which would make Wood's 2030 price target suggest close to 1,200% worth of upside from current levels. Undoubtedly, a more than 11-bagger prediction in around five years is still quite an aggressive target. At this juncture, I'm not quite sure of the reasons for the price target cut. Perhaps it's due to the rise of other cryptocurrencies (most notably stablecoins) or recent volatility."
Cathie Wood reduced her 2030 Bitcoin price target from $1.5 million to $1.2 million. Current Bitcoin trading just north of $101,000 implies roughly 1,200% upside to reach that target. The forecast remains aggressive, equating to an over-11-fold gain in about five years. Uncertainty around the target cut includes the rise of other cryptocurrencies, notably stablecoins, and recent volatility. Bitcoin retains perceptions as a digital form of gold, but substantial terrain and technical and downside risks exist before such lofty price levels could be reached.
Read at 24/7 Wall St.
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