ARK Invest calls $ 258,000 growth in GTS the «worst case scenario»

Investment company ARK Invest has published a forecast for the BTC exchange rate until 2030. According to the document, the bearish price target for BTC is $ 258,500, the base price target is $ 682,800, and the bullish price target is $ 1.48 million.

ARK Invest noted that BTC is resistant to censorship, inflation, and confiscation, and is also a completely transparent crypto asset. Moreover, in 2022, the volume of bitcoin transactions amounted to $ 38.7 trillion, which is more than 36% of total transactions in the crypto sector. Experts also believe that last year, BTC probably witnessed the worst crypto market downturn ever. «The surrender of bitcoin holders was identical to that observed at the lows of the previous cycle,» the analysts explained.

The ARK Invest report also presents areas that can positively affect bitcoin’s capitalization:

• corporate treasury
• money transfers
• state budget;
• emerging market currencies;
• assets resistant to withdrawal from circulation;
• institutional investments;

Earlier, the head of ARK Invest, Katie Wood, predicted that bitcoin would grow to $ 1 million by 2030. In January, the company’s chief futurist Brett Winton said that digital asset rates are expected to show positive dynamics, depending on how much progress is made in artificial intelligence. According to Winton, public blockchains and cryptocurrencies, which are currently going through a difficult period, will become even more differentiated due to their scarcity in the market.

At the time of writing, bitcoin is trading at $ 22,989 with a market capitalization of $ 443.3 billion. Daily trading volumes exceeded $ 6.16 billion.