- Cathie Wood recently expressed her optimistic views about the crypto industry in a new video update.
- Bitcoin (BTC) dropping along with the stock market is a temporary phenomenon, highlights the founder.
- She sees immense potential and opportunities in the crypto industry in the coming years.
Cathie Wood, the founder of ARK Invest, expresses her views regarding the bearish position that the crypto market has been witnessing lately.
Bitcoin And Other Digital Assets To Witness Productive Moves
She highlights that the strong association between crypto and traditional assets signifies that the bear market will end up soon. And that the bottom for the risk-on assets like Bitcoin (BTC) and digital assets is likely near, she opined in a new video update.
She predicts this following the instance of the crowned cryptocurrency Bitcoin (BTC) dropping in tandem with the stock market, which the founder says is a temporary phenomenon.
She cites that crypto, a new asset class, should not look like the Nasdaq, but it does. It is highly correlated currently. And that you know you are in a bear market when and maybe near to the end when everything begins to act alike. And that we are witnessing the capitulation of one market after the other.
Wood seems to be quite optimistic about the crypto’s potential despite the current downturn. She sees it as something that would grow massively as it disrupts society and markets.
Given the dreariness in the equity markets and the bond markets currently and now increasingly commodities markets and crypto, take a look at their research, and read their Twitter profiles for some optimism and hope. She can’t tell you how excited and confident they are that their platforms will transform the world and are entering exponential growth trajectories now. This is not about five years from now. They now live the reality that was only a dream in the tech and telecom bubble.
Blockchain is among the group of sectors that provide opportunities for huge growth. She looks at these sectors collectively exploding 21x in the next seven to eight years.
Furthermore, she highlighted she has been in the industry for over 45 years and has never seen the opportunities as she sees them now.
Their expectations denote the truly disruptive innovation which presently is valued in the global public equity markets at nearly $10 trillion, about 10% of the global equity market cap. And that they believe that the $10 trillion will scale to $210 trillion by 2030.
Source: https://www.thecoinrepublic.com/2022/05/10/cathie-wood-the-ark-founder-indicates-the-end-of-bear-market-bullish-about-blockchain-tech/