Bitcoin News Today TheBitTimes.com

Fund manager ARK Invest raised its most optimistic Bitcoin price prediction to $2.4 million by 2030—up from $1.5 million previously—citing accelerating institutional adoption as a key driver. ARK analyst David Puell detailed the updated forecast in an April 24 report, also raising the firm’s bear and base case targets to $500,000 and $1.2 million, respectively. Each scenario reflects growing confidence in Bitcoin’s integration into the traditional financial system. In the bull case, Puell projects Bitcoin could capture 6.5% of the $200 trillion global financial market, driven by its increasing appeal as both a store of value and a macro hedge. He also sees BTC potentially taking 60% of gold’s $18 trillion market cap as it becomes widely accepted as “digital gold.” Bitcoin Supply On Exchanges Drops To Lowest Level In Over 6 Years Supporting the narrative of accelerating institutional adoption, Fidelity Digital Assets noted in an April 24 post...

A familiar tale of losing stocks and a surging greenback greets Bitcoin traders this week as $20,000 fails to sustain as support. Bitcoin (BTC) heads into the first week of September on a rocky road downhill after United States markets’ Jackson Hole rout. After the U.S. Federal Reserve reinforced hawkish comments on the Inflation outlook, risk assets sold off across the board, and crypto is still reeling from the aftermath. A fairly nonvolatile weekend did little to improve the mood, and BTC price action has returned to focus on areas below $20,000. In so doing, multiple weeks of upside have effectively disappeared, and in turn, traders and analysts expect a retest of the macro lows seen in June this year. While all is now quiet regarding the Fed until the September rate hike decision, there is still plenty of room for upset as geopolitical uncertainty and inflation persist, the latter still increasing in Europe. However, as last week, Bitcoin appears fundamentally resilient as a netw...