Wood: “Bitcoin Will Be $1 Million This Date”

The global crypto market is trading under increasing selling pressure due to the recent collapse of FTX. Bitcoin, the world’s largest cryptocurrency, has experienced a heavy decline of 65% on a year-to-date (YTD) basis. However, Ark Invest founder Cathie Wood is still bullish on Bitcoin price prediction amid the continued crash.

In an interview with Bloomberg Markets, Cathie Wood clarified her perspective on Bitcoin price prediction. Wood claimed that his Bitcoin forecast will reach $1 million per cryptocurrency by 2030. Cathie Wood talked about how sometimes the market has to go through the battle test and crisis to see what’s real. Wood underlined that Bitcoin has managed to get out of these struggles. Meanwhile, Wood believes the only thing that can delay this is if institutional investors are backing down.

Cathie Wood emphasized that despite the FTX collapse, she still trusts the crypto market. However, she described FTX as a fraud, she said. Wood expects crypto to keep moving forward. Bitcoin price has increased by more than 5% in the last 24 hours. BTC is trading at an average price of $16,601 at the time of writing. The 24-hour trading volume is currently $33.8 billion.