Despite the fact that the vast majority of analysts have lost faith in the world's most valuable coin, Bitcoin is making a strong comeback. Cathie Wood, the CEO of Ark Invest, said in an interview with CNBC anchor Andrew Ross Sorkin at the SALT Conference on Monday that she expects bitcoin to reach $500,000 in five years and that her firm's belief in ether has grown significantly.
Extreme up-and-down movements in cryptocurrency prices are rather normal, and investors may expect them to continue in the future. “The only thing I can predict with certainty is volatility,” said David Yermack, a finance professor at NYU Stern School of Business. “This has been a risky investment for people from the beginning.” Over the last decade, Bitcoin has experienced spectacular growth as well as dramatic sell-offs at various occasions. Although many bulls point to the cryptocurrency's historical performance as proof that it will continue to rise in the future, this may not be the case.
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