Cathie Wood: Bitcoin Cycle Indicates Uptrend

IconCryptoNewsTerminal Staff09 Jul, 2024

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Cathie Wood: Bitcoin Cycle Indicates Uptrend

Cathie Wood, CEO of Ark Invest, recently stated in a YouTube broadcast that Bitcoin (BTC) is currently in the middle of an uptrend cycle. This assessment is based on an analysis of past Bitcoin patterns and on-chain analysis. Wood explained that BTC prices tend to exhibit a parabolic pattern towards the end of a bull market. Based on this observation, she believes that the current crypto market is likely still in the early stages of a bull run. "It is predicted that demand for Bitcoin will surge in the next few months as at least one of the major wirehouses will support Bitcoin spot ETF trading," Wood added. Wood's comments echo those of other analysts who believe that Bitcoin is poised for further gains in the coming months. However, it is important to note that all investments involve risk, and investors should always conduct their own research before making any decisions.

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