Bitcoin is predicted to grow by more than 3000% in a year

The flagship of the cryptocurrency market has been moving sideways since the halving that took place on Friday. Against this backdrop, Katie Wood 's Ark Invest fund assessed the potential impact of this event and the possibilities for further growth BTC $95,686.54 Bitcoin -1.06% Market capitalization $1.89 trillion VOL. 24 hours $3.58 billion «The halving is critical for bitcoin, emphasizing its predictable monetary policy and the role of bitcoin as a scarce asset ,» said Ark Invest’s Chief Digital Asset Officer Yassin Elmanjra.

The analyst noted the possibility of an inevitable rally in the BTC. «Since bitcoin’s inception 15 years ago, its halving has taken place in the context of long-term bullish trends,» Elmanjra said. «In the 12 months following the three previous halving, the price of bitcoin has increased from about 285% to 8478%, with an average increase of about 3108% ,» the expert emphasized.

Bitcoin grew strongly on the eve of the halving, but since then, negative sentiment has been observed. The cryptocurrency peaked at $ 73,750 on March 14, and the optimism that persisted after the launch of the Bitcoin ETF contributed to the rate’s growth.

Currently, Ark Invest believes in the potential growth of the BTC by 3000% within 12 months after the halving. The CEO of Ark Invest, Katie Wood, constantly shares optimistic forecasts about the value of bitcoin. In late March, Wood suggested that BTC could rise to $ 3.8 million.

Speaking about her latest prediction, Wood noted that such an astronomically high price would be achieved if institutional participants allocate at least 5% of their portfolios to the largest cryptocurrency. Without giving a specific timeframe, Wood believes that this will happen sooner or later.

Ark Invest was one of the firms that managed to get permission from the US Securities and Exchange Commission to launch a spot bitcoin ETF in January. After the product launch, Wood predicted that bitcoin would continue to displace the gold market, as there is now a much easier way to access the leading cryptocurrency.