Despite facing a downturn of 10% year-to-date, Bitcoin has seen a recent boost, rising over 3% in one day due to positive market sentiments and solid trading volumes. The cryptocurrency has remained correlated with stocks recently, responding to broader market trends. Optimism surrounding the Federal Reserve's interest rate decisions is fueling this uptick. Furthermore, ARK Invest's Cathie Wood maintains a bullish outlook with a $1.5 million price target by 2030, citing a burgeoning institutional interest in Bitcoin, which could signal a new era of market integration.
Despite being down 10% year-to-date, Bitcoin is currently rising over 3%, signaling potential recovery and reflecting broader market optimism.
Cathie Wood of ARK Invest remains bullish on Bitcoin, projecting a price of $1.5 million by 2030, fueled by innovation and institutional interest.
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