Bitcoin Recovers From the Crash — Famous Investor Claims That BTC Can Reach $1 Million In the New Future
Although the rapid crash of Bitcoin to under $33,000 stirred up some panic within the blockchain ecosystem, the price of the oldest and most popular cryptocurrency has already started to recover. The BTC price has surpassed $37,000, and most crypto experts think that the worst is behind us and that Bitcoin will now regain its bullish momentum. Meanwhile, one of the most famous investors in the world has just claimed that BTC will reach $1,000,000 — but is that really possible?
When the BTC price has fallen under $33,000 on Monday, January 24th, some crypto investors were seriously concerned — after all, the Bitcoin price has lowered by 50% from it’s all-time high of $69,000.
However, it looks like there really was no reason to panic. The sudden bearish movement on the crypto market was mostly caused by the price drop on the US stock market, and was in no way related specifically to Bitcoin in particular or cryptocurrencies in general.
Now, the crypto investors who managed to buy the dip at $33,000 have already made considerable profits, and the Bitcoin price looks ready to bounce back to new ATHs, making the entire crypto ecosystem bullish again.
Cathie Wood, the founder of the massively famous ARK Invest fund that focused on innovative, emerging tech solutions, has been a renewed Bitcoin and crypto bull for years. The recent price drop has not changed the celebrity investor’s opinion regarding the future of cryptocurrencies — according to Wood, the future of crypto looks very bright, and Bitcoin might soon reach $1,000,000.
During the ARK’s “Big Ideas Summit” virtual event that took place over the weekend, Wood’s blockchain experts presented an ultra-bullish $1,000,000 BTC price prediction for 2030. According to the ARK Invest team, the price growth of Bitcoin will not be caused by speculation, but simply by embracing all of Bitcoin’s use cases by institutional and corporate entities.
According to Yassine Elmandjra, the leading blockchain analyst at ARK Invest, Bitcoin adoption will grow massively over the next few years. Among the Bitcoin’s use cases listed by ARK Invest are remittances, economic settlements, institutional investments and using BTC as a digital gold and a seizure-resistant asset by retail investors.
The analysis produced by ARK Invest shows not only that the future of crypto looks bright, but also points to the fact that we’re very early at the blockchain adoption timeline. Innovative crypto projects like Grand Time have a lot of room for growth, as they serve a massively important purpose of being used as a gateway to crypto for millions of blockchain beginners around the world.