ARK Investment Management, founded by Cathie Wood, has published several reports in the past that the leading cryptocurrency Bitcoin may reach price levels of $ 1 million by 2030.

The crypto analyst of ARK Investment listed many items on his long-term expectations regarding BTC on his twitter account. The analyst emphasized the potential market value of Bitcoin in 2030.

In a post on his Twitter account, ARK Investment's crypto analyst Yassine Elmandjra listed the reasons for his expectations that the leading cryptocurrency Bitcoin will reach price levels of $ 1 million in 2030. Listing 8 items by sharing a detailed visual on the subject, the analyst also touched on the potential growth in market value.

bitcoin market capitalizion

ARK Investment predicts that Bitcoin's market cap, which has recently stood at $1 trillion (currently $716 billion - CoinGecko), will reach $28.5 trillion by 2030.

ARK Investment predicts that over the years, more and more institutional investors will invest in the leading cryptocurrency Bitcoin. Stating that the uncertainty regarding the legal regulations causes a concern on the part of institutional investors, ARK Investment expresses their expectations that this negative effect will disappear in the long run and that giant companies will add Bitcoin to their portfolios over the years.

BTC graph

When Does Bitcoin Rise Start?

In order for Bitcoin's rise to be certain, $53,000, which is currently seen as the strongest resistance, must be overcome. However, of course, in order to reach the aforementioned level, the intermediate resistors must also experience a strong breakdown.

At this point, Bitcoin needs to break $42,000, then $45,000 and then $48,000. Above these levels is the strong psychological level of $50,000. This level may be more difficult to exceed than others. Because there may be a serious selling pressure here. If $50,000 is broken, analysts think that consolidation could be entered for a while and even interim declines may come.

In addition, if this does not happen with the rise and BTC loses $37,000 and then $35,000, we may face a new downtrend. A fresh drop could lead to a drop towards $29,000, which some analysts expect to be seen as a bottom.