Cryptocurrency market analysts predict the growth of bitcoin to $ 683,000

Ark Invest CEO Catherine Wood has suggested that the cryptocurrency market will grow to $ 25 trillion by 2030, and it will continue to be dominated by bitcoin BTC $98,566.84 Bitcoin -0.56% Market capitalization $1.95 trillion VOL. 24 hours $3.87 billion and ethereum ETH $3,339.96 Bridged Ether (StarkGate) -0.73% Market capitalization $0.28 billion VOL. 24 hours $1.9 billion . In an interview with CNBC, the expert discussed the prospects of the crypto industry for the next seven years.

Wood is confident that even in a few years, the cryptocurrency ecosystem will continue to be dominated by two main cryptocurrencies: BTC and ETH. The Ark Invest CEO presented several scenarios regarding the bitcoin rate.

The baseline scenario assumes that by the end of 2030, bitcoin will be trading at about $ 682,800 per coin. According to the most optimistic forecast, bitcoin will rise to $ 1.48 million over the same period. Wood also spoke about the possible approval of spot bitcoin ETFs by the US Securities and Exchange Commission (SEC). She noted that there have been significant changes in the regulatory environment since last year, so there is a high probability that cryptocurrency exchange-traded funds will be approved in the United States.

«The SEC asked us a lot of questions about the launch of a bitcoin ETF. Previously, all previous Ark Invest applications were rejected without any discussion,» Wood said. The analyst noted that the securities regulator is actively interacting with other applicants, including the investment company BlackRock.

According to Wood, a breakthrough in the regulation of cryptocurrencies is extremely important, as it will bring more large companies to the market. The expert is sure that BlackRock’s partnership with the largest crypto exchange Coinbase, whose shares are traded on NASDAQ, will play a special role. This partnership implies that BlackRock’s spot bitcoin ETF (iShares Bitcoin Trust) will use the Coinbase Custody service. The deadline for Ark Invest’s application to launch this product is January 10.

In August, Catherine Wood suggested that the US regulator would approve several spot ETFs linked to bitcoin.