Should I still buy now… A ‘shocking forecast’ for Bitcoin has emerged

Source

Suehyeon Lee

Summary

Although Bitcoin has been in decline recently, optimistic projections that it will reach $1 million by 2030 are spreading.
The inclusion of Bitcoin in U.S. 401(k) retirement plans and the popularity of cryptocurrency ETFs are cited as reasons for a long-term upward trend.
There are also forecasts that Bitcoin could climb to between $180,000 and $200,000 by the end of the year.

Cryptocurrency A to Z

"It will reach $1 million in 2030"

Growing optimism about Bitcoin

Included in U.S. retirement plans

The popularity of cryptocurrency ETFs

Highlighted as grounds for long-term rise

Despite the recent decline

Year-end forecast: $200,000

Even though Bitcoin has recently experienced a downturn, optimism about its long-term outlook is spreading. With the opening of investment opportunities in Bitcoin within U.S. 401(k) retirement plans, expectations for a long-term price increase are growing.

According to the cryptocurrency industry on the 24th, Bitcoin fell nearly 7% in the past week, dropping as low as $113,000. A higher-than-expected increase in U.S. inflation reduced expectations for interest rate cuts, which contributed to the decline.

However, the market remains optimistic, expecting Bitcoin to rise as high as $1 million in the long term. On the 20th, Brian Armstrong, CEO of Coinbase, predicted via X (formerly Twitter) that "Bitcoin's price will reach $1 million by 2030." He cited clearer regulations, the U.S. government’s Bitcoin holdings and reserves, and growing interest in cryptocurrency ETFs as reasons for his outlook.

Eric Trump, the second son of former U.S. President Donald Trump, also stated at a blockchain summit held in Wyoming on the same day that "there is no doubt Bitcoin will reach $1 million." Jack Dorsey, CEO of Block, similarly forecast that "Bitcoin could reach $1 million by 2030, and may even surge higher."

Cathie Wood, CEO of ARK Invest, recently raised her 2030 price target for Bitcoin to as high as $3.8 million in a report. Wood pointed to the increasing allocations to Bitcoin by global asset management firms and pension funds as grounds for long-term price growth.

There are also projections for Bitcoin to reach between $180,000 and $200,000 by the end of this year. André Dragosch, Head of Research in Europe at Bitwise, noted that "including cryptocurrency in U.S. 401(k) retirement plans is even more significant than last January’s approval of a U.S. spot bitcoin ETF," and anticipated that "Bitcoin could rise to $200,000 by year-end."

Suhyun Lee, journalist at Bloomingbit shlee@bloomingbit.io