Bitcoin Price Predictions: Why Cathie Wood Thinks BTC Can Hit $1 Million

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Bitcoin (BTC-USD) price predictions are a hot topic on Wednesday after investors Cathie Wood said the crypto will hit $1 million.

According to Wood, BTC is going to do more than just bounce back to its prior all-time high of $68,789.63. Instead, she is of the firm opinion that Bitcoin will well surpass that and climb to $1 million per token by the time 2030 rolls around.

It’s worth noting that Wood isn’t just bullish on Bitcoin with her latest price predictions. She believes that crypto, in general, is going to recover from the downward slump its been in this year. Evidence of that includes her increasing her stake in crypto exchange Coinbase (NASDAQ:COIN) this month.

What’s Behind the Bullish BTC Stance?

According to Cathie Wood, the FTX crash shouldn’t keep investors from taking a stake in crypto. She notes that many adopters are holding off in light of the recent drama around that exchange. However, she believes this will be a learning experience for them that could lead to investments in BTC and Ethereum (ETH-USD).

It’s worth mentioning that Bitcoin has a long way to go before it comes anywhere close to $1 million per token. As of this writing, the crypto is trading at $16,420.54. That’s a 1.3% increase over the prior 24-hour trading period. BTC trading volume is down 12.3% over that same period.

Crypto traders looking for more of the latest market news will want to keep reading!

We’ve got all of the most recent crypto news that investors need to know about! For Wednesday, that includes a couple of lists of cryptos to watch, as well as the worst-case scenario for FTX. You can catch up on all of that news at the links below!

More Wednesday Crypto News

• 3 Significantly Undervalued Cryptos to Buy Before They Boom
• 7 Cryptos to Watch as the Sector Risks Hibernation
• The Absolute Worst Case Scenario for Crypto After the FTX Crash

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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