Jack Dorsey allows the Bitcoin price to rise to $1 million by 2030

A new report from CoinShares states that the actions of the Fed in the near future will affect the movement of the exchange rate of the main crypto coin. The effect of the recent halving and the approval of the BTC-ETF has already passed, and the digital asset market needs new growth drivers, analysts say.

CoinShares also noted that a study of transactions over the past 40 days showed a serious relationship between the value of BTC and the expectations of market participants in the context of fluctuations in the key rate in the United States. This already happened last year.

On the eve of the next Federal Reserve meeting, the price of BTC fell below $57,000. If the American regulator decides to lower the rate this year, the rate of the first cryptocurrency will begin to rise, analysts are sure.

Grayscale Research believes that the price of BTC and other crypto coins could increase before the end of this year, as the situation in international markets remains largely favorable. The growth of the American economy and significant inflationary pressure have reduced the chance of a significant reduction in Fed rates.

At the same time, the BTC halving, the work of the US authorities in terms of regulating stablecoins and the growth of activity in the Ethereum ecosystem can give a positive impetus to the digital currency market.

“In our opinion, the forecast for growth in the value of Bitcoin and the overall capitalization of the digital asset market still appears favorable: the US economy is on the way to a soft landing, and Fed officials are making it clear that a reduction in the refinancing rate may occur, but will not be sharp. At the same time, the November presidential elections are unlikely to lead to strengthened budget discipline,” analysts explained.

Twitter creator and Block CEO Jack Dorsey predicts that by 2030 the value of Bitcoin could reach $1 million and even exceed this mark. According to the entrepreneur, the most interesting aspect is the nature of the BTC ecosystem, and not the fluctuations in the price of the crypto coin.

Dorsey said that the price of Bitcoin will reach at least $1 million by 2030 and go beyond that.

Do you agree with him?