Quick Read
-
Cathie Wood lowered her 2030 Bitcoin price target to $1.2M from $1.5M but remains bullish.
-
Bitcoin faces near-term technical headwinds while gold has delivered stronger year-to-date performance amid macro uncertainties.
-
If you’re thinking about retiring or know someone who is, there are three quick questions causing many Americans to realize they can retire earlier than expected. take 5 minutes to learn more here
When it comes to famous growth investors, it’s tough to get as big as Ark Invest’s Cathie Wood, who’s been one of the most notable bulls on Bitcoin (CRYPTO:BTC) in recent years. And while Wood, who’s enjoying a magnificent comeback year for hyper-growth technological innovators with disruptive potential, has technically lowered the bar on her longer-term price target on Bitcoin, now calling for $1.2 million instead of $1.5 million in 2030, there’s still ample upside to be had if Bitcoin is to make a move that takes it anywhere close to Wood’s new target.
Undoubtedly, Bitcoin hitting $1 million would entail considerable gains from current levels, especially in the face of recent volatility. Today, Bitcoin goes for just north of $101,000, which would make Wood’s 2030 price target suggest close to 1,200% worth of upside from current levels.
Undoubtedly, a more than 11-bagger prediction in around five years is still quite an aggressive target. At this juncture, I’m not quite sure of the reasons for the price target cut. Perhaps it’s due to the rise of other cryptocurrencies (most notably stablecoins) or recent volatility.
Could Bitcoin Blast Past the $1 Million Mark?
In any case, Cathie Wood still stands out as bullish on the digital asset that many still view as a digital form of gold in an economy where gold has been shining as bright as ever. If Wood’s target is hit, the only thing shinier than gold might be Bitcoin. But in the meantime, there’s some tougher terrain to get through. And, for now, let’s just say I’d be shocked if Bitcoin were to make a move past the $1 million mark at some point within the next five years. But, of course, some more explosive moves have happened in the AI scene in recent years.
If Palantir (NASDAQ:PLTR) can gain more than 1,000% in five years, I suppose so, too, can Bitcoin. But before you’re ready to ride Bitcoin higher, though, you should know of the potential downside risks as the cryptocurrency skates into the year’s end in a rather technically tough spot.
I guess it comes down to your perspective. Some folks may view the recent choppiness in Bitcoin and other cryptos as a buying opportunity, whereas others might view the relative year-to-date outperformance of gold as a signal that it’s time to go for gold rather than Bitcoin. Personally, I’m in the latter category, as gold continues to have its moment in the sun. I think gold might be where the gains are, as the wave of new buyers looks to the asset as a stable store of value amid macro uncertainties and the potential to insulate against a bursting of an AI bubble and a potential stock market downturn.
Gold Has Outperformed Bitcoin. Will That Last?
Of course, the thing with gold is that it’s got less explosive upside than the likes of a Bitcoin, at least that’s what some traders think. If Bitcoin has another tough year, while gold powers ahead with high double-digit percentage gains, I’d much rather by in gold than Bitcoin. And while I’m more of a gold bug than a Bitcoin bull, I do acknowledge that the risk/reward of cryptocurrencies is on an entirely different level.
For safety seekers, gold is the asset to go with, especially as it picks up after its recent autumn drop. But for Bitcoin believers and crypto fans, I wouldn’t be against going with Bitcoin after a choppy couple of weeks. Just be ready for choppiness as Bitcoin stays above the $100,000 support level in search of its next leg higher.
Though I could be wrong in a big way, I think 2026 could be another repeat year that sees gold outperform Bitcoin. While I am a fan of Cathie Wood and her Ark ETFs, I’m more cautiously optimistic on Bitcoin than pound-the-table bullish, especially if the asset stays range-bound going into year’s end.