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Cathie Wood backs down on $1.5M Bitcoin price prediction
November began on a red note for Bitcoin (BTC), with prices having cooled from recent highs. After reaching an all-time high of $126,000 in October, BTC momentarily fell below the $100,000 mark. Some analysts view it as a healthy correction after a parabolic rally earlier this year. While Ark Invest CEO Cathie Wood remains “extremely bullish" on Bitcoin, she has, however, revised her ambitious forecast for the cryptocurrency. Bitcoin's alternative on the rise: Speaking with CNBC’s Squawk Box on Nov. 6, Wood explained that the revision is based on the growing popularity of stablecoins. This has led her to ... (full story)
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