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Can Bitcoin Reach $560,000?

TheMotleyFool

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Bitcoin's (CRYPTO: BTC) price has skyrocketed more than 7,200% over the past five years, easily outperforming traditional assets and silencing the critics who claimed the cryptocurrency's gains were unsustainable.

In this year alone, Bitcoin's price has nearly doubled, even as China's crackdown on cryptocurrency trades throttled its gains. As of this writing, the price of a single Bitcoin hovers just above $56,000.

Some investors might think Bitcoin's price will gradually stabilize at these levels. But more bullish investors -- including ARK Invest's Cathie Wood -- anticipate even bigger multibagger gains. Wood recently claimed that Bitcoin's price could still soar to $560,000 by 2026. Is that target far too optimistic?

Source Fool.com

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