Multiple Analysts Look at $400,000 as Bitcoin’s Ultimate Bull Stop

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A soup of optimistic fundamental and technical indicators has led multiple analysts to envision Bitcoin at a six-digit valuation. The flurry of experienced finance professionals includes veteran trader Peter Brandt, investment strategist Scott Minerd, and asset manager Cathie Wood. All of them, coming from different mindsets, lately projected Bitcoin at $400,000, a cryptocurrency that has been on a record bull run since March, rising by up to 1,150 percent to hit a record high above $48,000. Bitcoin corrects modestly after hitting a record high above $48,000. Source: BTCUSD on TradingView.com For Ms. Wood… …who founded Ark Invest—an asset management firm holding investments worth $29.3 billion, the follow-up capital for Bitcoin comes from corporates. She noted that if all the companies listed on the US benchmark S&P 500 index reallocate 10 percent of their cash reserves to the benchmark cryptocurrency, the BTC/USD exchange rate will shoot past $400,000. Bitcoin has gained…

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