The post Bitcoin Bullish Run Is Not Over, Ark Invest CEO Says We Are Only “Halfway Through” appeared on BitcoinEthereumNews.com.

Bitcoin (BTC) continues to face downward pressure following major negative developments surrounding the digital asset, which has led to speculations about whether BTC’s bull run has reached its climax. As a result, Cathie Wood, a popular advocate for cryptocurrencies and Chief Executive Officer (CEO) of Ark Invest has delved into the discussion offering her insights on the subject.  Wood in a recent assessment has predicted that Bitcoin is currently halfway through its bull market, demonstrating her unwavering confidence in the crypto asset’s potential in the long term. Her prognosis points to a range of factors such as heightened institutional adoption, and macroeconomic trends that could impact BTC’s price positively. Bitcoin Bull Run Is Halfway Through The Ark Invest CEO Cathie Wood shared her insights on Bitcoin’s current price trend in a recent interview with Peter Diamonds, a science and tech entrepreneur, on Tuesday.  According to Wood, the research team at Ark Invest, especially their expert in Bitcoin on-chain analytics, predicts that the market is presently in the middle of a bull phase. However, this does not imply that the price rise is halfway through. While Wood claims BTC is only halfway through this bull market due to on-chain analytics in the short ten-year history, she believes the digital asset will go parabolic at the end of this bull cycle. She stated: So we have four people at Ark who are working on crypto generally, and one of them is dedicated to Bitcoin on-chain analytics. And judging by those, we believe we are halfway through this bull market. Halfway does not mean we are halfway through the price increase because, you know, at the end of a bull market prices tend to go parabolically. So we have no idea when that is. Furthermore, Wood pointed out that the rising interest and…

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Filed under: News - @ July 10, 2024 8:18 pm