Will Bitcoin price eventually hit $1 million per coin? CathieDWood thinks so, and she’s also boosting Ark Invest’s position in Coinbase stock.
ARKK purchased nearly 330,00 shares of COIN on June 6, 2023, worth about $17 million at the time, according to
As far as why she’s still bullish, her reasoning boils down to this: SEC enforcement will lead Coinbase to become the only game in town when it comes to cryptocurrency exchanges in the USA. Of course, this assumes that Coinbase will triumph in its own legal battles with the SEC. These types of allegations “have nothing to do with Coinbase,” according to Wood. Therefore, she believes thatwill survive the storm and emerge victorious, with its biggest competitor out of the picture.
Several notable analysts have come forward with more bullish price targets of $70, including John Todaro and Atlantic Equities.The RSI is perfectly neutral at a reading of 49.7, suggesting no decisive direction for COIN at this time.
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