"Bitcoin) has seen wild swings lately, testing the nerves of even seasoned investors. Just weeks ago, the cryptocurrency surged past $126,000, fueled by optimism around regulatory shifts and institutional adoption. But that high was short-lived. In a sharp reversal, Bitcoin plunged below $100,000 amid broader market pressures, including profit-taking and macroeconomic concerns. Today, Bitcoin trades around $104,150, reflecting a partial recovery but still far from its peak."
"Cathie Wood, founder and CEO of ARK Investment Management, has been one of Bitcoin's most vocal and influential advocates for years. Through her firm's research reports, public appearances, and exchange-traded fund (ETF) filings, she has consistently painted Bitcoin as a revolutionary asset class - one that could disrupt traditional finance, serve as digital gold, and even become a global reserve currency."
"Wood's bullishness is rooted in fundamentals: Bitcoin's fixed supply of 21 million coins, its decentralization, and its growing integration into payment rails and balance sheets of corporations and governments. ARK's annual "Big Ideas" reports have long featured aggressive Bitcoin price models, factoring in network growth, halving cycles, and adoption curves. Her original base case wasn't modest - $1.5 million by 2030 in the bull scenario - premised on Bitcoin capturing 5% of institutional portfolios and displacing a portion of gold's $12 trillion market cap."
Bitcoin experienced large price swings, surging past $126,000 then plunging below $100,000 before partially recovering to about $104,150. Volatility has been driven by regulatory optimism, institutional adoption hopes, profit-taking, macroeconomic concerns, interest-rate expectations, and geopolitical events. Market participants are divided, with some viewing dips as buying opportunities and others fearing continued downward momentum. A prominent Bitcoin bull recently reduced a price target, adding to uncertainty about market outlook. Cathie Wood remains a longtime Bitcoin advocate, citing fixed supply, decentralization, and growing corporate and governmental integration, while ARK models project aggressive long-term price scenarios.
Read at 24/7 Wall St.
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