Cathie Wood says ARK’s Bitcoin $1.5M bull price hasn’t changed as markets eye rally

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Equities and cryptocurrency markets whitethorn beryllium mounting up for a year-end reversal arsenic liquidity improves and US monetary argumentation turns much supportive pursuing the extremity of the grounds authorities shutdown.

Improving marketplace conditions volition beryllium driven by the expanding liquidity, which has already returned $70 cardinal into markets since the extremity of the US authorities shutdown, with different $300 cardinal expected to instrumentality implicit the adjacent 5 to six weeks arsenic the Treasury General Account normalizes, according to concern absorption institution ARK Invest.

Another imaginable catalyst volition get connected Dec. 1, erstwhile the US Federal Reserve is scheduled to extremity its quantitative tightening programme and pivot toward quantitative easing, a displacement that involves bond-buying to little borrowing costs and stimulate economical activity.

“With liquidity returning, quantitative tightening (QT) ending December 1st, and monetary argumentation turning supportive, we judge conditions are gathering for markets to perchance reverse caller drawdowns,” wrote Ark successful a Wednesday X post.

Crypto and AI liquidity compression whitethorn ease

The existent “liquidity squeeze” limiting the upside of the cryptocurrency and artificial quality markets is acceptable to “reverse successful the adjacent fewer weeks,” wrote Cathie Wood, the CEO and main concern serviceman of ARK Invest, successful a Thursday X post.

Earlier successful April, ARK Invest predicted a 2030 Bitcoin (BTC) terms people of $1.5 cardinal successful the company’s “bull case,” and a $300,000 terms people successful the “bear case.”

Despite the caller crypto marketplace correction and stablecoins subtracting from Bitcoin’s relation arsenic a safe-haven asset, the bullish terms people remains unchanged.

“The stablecoins person accelerated, taking immoderate of the relation distant from Bitcoin that we expected,” but the “gold terms appreciation has been acold greater than we expected,” explained Wood during a webinar connected Monday, adding:

“So net, our bull price, which astir radical absorption on, truly hasn’t changed.”

Other fashionable crypto analysts person besides predicted a important crypto marketplace rally with improving fiscal conditions successful the US. Notably, BitMEX co-founder Arthur Hayes predicted a Bitcoin rally to $250,000 if the Federal Reserve announced a pivot to QE.

Still, cryptocurrency markets volition proceed lacking condemnation until Bitcoin tin reclaim the $92,000 level, which whitethorn “open the doorway to a broader betterment if macro conditions align,” Iliya Kalchev, dispatch expert astatine integer plus level Nexo, told Cointelegraph.