- Cathie Wood’s prediction for Bitcoin is $600k: Here’s why Memeinator will be there
- Bullish BTC price predictions are down to Bitcoin’s halving and potential first spot Bitcoin ETF for the US market.
- The Memeinator is a unique meme coin that aims to rid the market of weak memes, targeting a $1B market cap.
Cathie Wood, founder and CEO of investment manager ARK Invest, is among those that are super bullish on Bitcoin. She sees the base price of Bitcoin (BTC) at $600k, pegging her prediction on a confluence of bull market catalysts.
Here’s what the Ark Invest exec said in an interview on Tuesday. You might also want to know what this prediction means for the rest of the market, including the new cryptocurrency Memeinator (MMTR).
Ark Invest’s Cathie Wood has a colossal prediction for Bitcoin
This week provided another crazy spike for crypto as a fake BlackRock XRP ETF filing sparked an upside frenzy for crypto majors. While Bitcoin, Ethereum and XRP are hovering near key support zones, interest in the market remains high amid bullish sentiment around spot Bitcoin ETF and regulatory clarity from the US.
According to Cathie Wood, the odds that the SEC will soon approve the product have gone up, with the securities watchdog engaging ARK, BlackRock and other applicants.
The Ark Invest CEO’s view is that institutional adoption of Bitcoin as an asset class is inevitable. She also points to this being a global phenomenon, not just a US opportunity. Other than Bitcoin, she is therefore bullish on other assets such as Ethereum and Solana.
Wood said in an interview with Yahoo Finance that Bitcoin’s supply of only 21 million BTC puts it on course for explosive demand. With this outlook, amid all the institutional buying power coming to the market, she sees the base case for the flagship coin is $600k.
She shared this same outlook during an appearance on CNBC’s “Squawk Box” on Tuesday, In her analysis, the crypto market as a whole is primed to scale from roughly $1.4 trillion today to over $25 trillion in 2030.
What does this outlook mean for meme coins, and why is it possible the Memeinator will be there when Bitcoin hits these lofty price targets? Here is what the project is about.
What is the Memeinator?
Memeinator is a new meme coin project that comes with a mission from a future where the world of crypto is teeming with worthless meme coins and potential crypto scams. Inspired by the 90s film hit The Terminator, the Memeinator’s focus is helping with crypto’s quest to redeem its image.
When the project launches following the conclusion of its presale, the community will get a chance to hunt down and destroy all that are weak and valueless in the world of meme coins. It’s why this token could hit massive heights if Bitcoin leads the market into its biggest bull run yet.
How does Memeinator work?
Leveraging AI and powered by the MMTR token, the Memeinator seeks to reach a $1 billion market cap and challenge top meme coins Dogecoin and Shiba Inu. Doing so means offering real utility in a market largely devoid of this as an explosion of dog or frog inspired coins tarnish meme culture.
As well as a unique NFT ecosystem, the Memeinator looks to integrate MMTR staking and gaming – allowing holders to benefit from their investment via different passive channels. Moving away from pure speculative culture driven by hype sets this project apart from most of the small meme tokens.
Memeinator – the outlook in a bull market
Memeinator’s presale that went live a few weeks ago will have 85% of the 1 billion MMTR token supply available to early investors. The token sale will encompass 29 stages and see the price increase from the initial $0.0112 to $0.0485, before MMTR hits exchanges.
As such, investors are likely to book decent gains before a bull market rally sends MMTR price skyrocketing. Unlike most meme coins, this outlook for Memeinator is buoyed by the project’s strong utility offering and community that is currently building amid the attractive presale.
Analysts have predicted that the BTC price could hit $50k by the end of 2023 and $120 in the next bull market. Cathie Wood sees a potential 10x over the next few years.
While no one can predict with certainty what happens in the future, investors might still note that when BTC roars into life, alts have historically followed. It happened in 2017 and in 2021, the latter seeing altcoins hit new highs as Bitcoin stormed to its all-time high above $69k.
If the Memeinator delivers on its roadmap, it could be one of the few meme coins that thrive when Bitcoin embarks on its next bull phase.
Interested in Memeinator? Read their whitepaper for more.
