Big Bull Cathie Wood Lowers Her Bitcoin (BTC) Price Target! Here’s Her New Prediction!

Bitcoin ($BTC) has fallen as low as $60,000 since the start of its decline in October.

While these declines are considered normal in a bear market for Bitcoin, predictions for $BTC are also being revised downwards.

At this point, the latest revised big bull came from Cathie Wood.

Accordingly, Ark Invest founder Cathie Wood lowered her long-term price target for Bitcoin from $1.5 million to $1.2-1.3 million by 2030.

In an interview with Morningstar Europe, Wood stated that although he lowered his price target, his confidence in Bitcoin had increased even further.

Wood reiterated Bitcoin’s status as a global digital asset and emphasized its independence from government regulation.

Wood stated that the proliferation of dollar-pegged stablecoins is stealing Bitcoin’s role in emerging markets, adding, “Individuals with limited savings in these countries may prefer dollar-pegged stablecoins or dollar-based assets.”

Wood stated that the change between this stablecoin and Bitcoin has lowered the current bullish scenario to between $200,000 and $300,000.

Wood reiterated his confidence in Bitcoin, suggesting that upward movements in gold prices could be a leading indicator for Bitcoin.

At this point, Wood recalled that in the two major bull markets of the past, Bitcoin had significantly followed the rise of gold.

*This is not investment advice.