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Katie Wood predicted the «bullish» trend of bitcoin


June, 06 2022
watermark Economic news

ARK Invest founder Katie Wood believes that the totality of indicators in the bitcoin market indicates an imminent "bullish" trend. However, investors need to be especially careful after the collapse of Terra.


Wood is sure that bitcoin is currently in the process of reaching the bottom – short-term holders have capitulated, and only a few strong investors remain on the market. 


«At the moment, the share of long–term holders is at a record high – 65.7%. This means that they hold bitcoins for at least a year. And despite the fact that there is now some capitulation of long-term investors, there are still strong players in the market. And this is a positive signal for bitcoin,» Wood said. 


Moreover, the company's specialists are closely monitoring the bitcoin futures market, which hints at a period of increased volatility. In particular, bitcoin futures are sold at a discount, which indicates high volatility. However, it is not yet clear where the price will turn, but many indicators point to growth. 


Also, the founder of ARK Invest noted that, despite optimism, caution should be exercised after the collapse of the Terra project, which became a fiasco for the entire crypto industry. After the collapse of Luna, supervisors received an even greater incentive to regulate the industry much tougher.


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