Cathie Wood and ARK Invest are EXTREMELY Bullish on Bitcoin, right now. Over the past month, the leading digital asset has experienced remarkable stability, exhibiting its lowest volatility in more than seven years.
Cathie noted that this pattern of reduced volatility often precedes a significant price move.
And she’s betting that this significant move is going to be upwards. In her most recent "In The Know" update, Cathie breaks down her reasoning behind her bullish stance on Bitcoin, arguing that all the indicators point towards an imminent upward breakout.
Supporting her arguments is the Bitcoin July 2023 Monthly report published by ARK Invest, which analyzes various positive on-chain indicators for the cryptocurrency.
Key among these factors is the increase in long-term holder behavior from Bitcoin HODLers, which indicates a highly committed base of investors. Additionally, the rapid decline in inflation numbers is cited as another encouraging signal for Bitcoin's future.
About Cathie Wood:
Catherine Duddy Wood is an American investor and the founder, CEO and CIO of Ark Invest, an investment management firm.
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