Cathie Wood, the CEO of Ark Invest, has shared her optimistic outlook on Bitcoin's future, suggesting that the cryptocurrency is poised for a rebound. In a recent interview, she addressed the factors contributing to the recent price fluctuations and outlined her expectations for the market. The source reports that her insights could influence investor sentiment moving forward.
Recent Decline in Bitcoin's Value
Wood pointed out that the recent decline in Bitcoin's value was primarily driven by a significant delegitimization event, alongside leveraged liquidations that amounted to around $28 billion. This combination of factors has created a temporary selling pressure, which she believes is now subsiding.
Future Forecast for Bitcoin
Looking ahead, Wood forecasts that Bitcoin will stabilize within the range of
- $80,000
- $90,000
Cathie Wood previously discussed the divergence in US inflation data, highlighting a significant drop in consumer price inflation according to Truflation. This contrasts with her recent optimistic outlook on Bitcoin's future. For more details, see inflation data.
