Cathie Wood, CEO of Ark Invest, maintains a price target of $1.5 million for Bitcoin (BTC) by the year 2030, emphasizing that Bitcoin is still in a bull market. Despite recent price fluctuations in Bitcoin and some analysts calling for a bear market, Cathie Wood of Ark Invest continues to hold positive views on the future of the cryptocurrency. In an interview with Bloomberg, Wood stated that the market is still in a bull cycle, saying, “Bitcoin is in the middle of its four-year cycle. We still believe we are in a bull market, and the U.S. emerging from regulatory uncertainty is critical for institutional investors transitioning to this new asset class.” Wood also revealed that she maintains the price target of $1.5 million for Bitcoin until 2030. Wood’s assessments align with other upward projections in the market. Bitwise’s CIO, Matt Hougan, suggested that Bitcoin could surpass $200,000 by the end of the year if current macro uncertainties subside. These predictions are supported by widely used valuation models like the MVRV-Z score, which currently stands near last year’s local lows. In past cycles, peak levels have often exceeded 6. If historical trends repeat, it appears that there is still a wide room for growth in the BTC price. SPOT BITCOIN ETF ENTRY WAVE While mixed opinions persist about the current outlook of Bitcoin, Ki Young Ju, CEO of CryptoQuant, presented a different view. Ju suggested that the bull market could end within the next 6 to 12 months, claiming that there is not enough ETF flow and trading volume to push BTC above $100,000. However, a reversal of the recent bearish trend in Bitcoin spot ETF products has been observed in the last three days. On March 17, there was an inflow of $274.5 million, followed by a demand of $209 million on March 18. This data indicates a potential shift in market dynamics. SHORT-TERM UNCERTAINTY PERSISTS FOR BITCOIN Uncertainties persist regarding whether Bitcoin’s recovery process will continue in the short term. While renewed ETF demand is seen as a significant factor that could support BTC’s price, the most critical factor that will shape its long-term direction will be macroeconomic developments and the Federal Reserve’s interest rate policies.