Ark Invest founder Cathie Wood adjusted Bitcoin’s 2030 price target down from $1.5 million but emphasized strengthened conviction in its long-term potential, stating, “Our conviction has gone up as Bitcoin has gone down.” She attributed the revised forecast to stablecoins “usurping” Bitcoin’s role in emerging markets, diverting $200,000–$300,000 from Ark’s bull case. Wood highlighted Bitcoin’s growing adoption by traditional finance institutions and its correlation with gold’s performance as a leading indicator. Retail traders, facing crypto volatility, are increasingly favoring equities, complicating Bitcoin’s risk-on status. Market analysts cite four-year cycle patterns and quantum computing risks as near-term pressures. Despite declines, Wood reiterated Bitcoin’s “global, digital asset” status, unburdened by government oversight.