Ark Invest CEO predicts bitcoin price recovery based on historical cycles

Cathie Wood, the head of Ark Invest, said on July 3 that bitcoin's price has started to find its lowest point. She expects the price to rise again, following a pattern that has repeated roughly every four years since 2012. This pattern is connected to bitcoin "halvings," events that reduce how quickly new coins are created. Wood said the next halving is planned for early 2028. Before that, she thinks bitcoin may fall to between $80,000 and $90,000, but she believes it will recover from that level. Her long-term target is $730,000 by the end of 2030, which would need around 72% growth each year. Public forecasts from large investment firms can affect how other investors feel about the market.