More importantly, it's very young. Bitcoin has only existed since 2009. Wood’s prediction was based on the assumption that Bitcoin would continue to gain acceptance among institutional investors, leading to an increase in demand and a subsequent rise in price. Ark Invest is a well-known investment firm that specializes in disruptive innovation, and Wood is one of the most prominent voices in the investment community advocating for Bitcoin. The digital coin's price rose on Tuesday and its market capitalization went above $1 trillion in mid-morning trade Singapore time, according to CoinDesk. The magnitude of Bitcoin’s loss this year is similar to that of the dotcom bubble, and there are signs of potential trend exhaustion. This website is using a security service to protect itself from online attacks. The action you just performed triggered the security solution. There are several actions that could trigger this block including submitting a certain word or phrase, a bitcoin mining in hit million tons SQL command or malformed data.