Cathie Wood, creator and CEO of ARK Investment Management LLC
Cathie Wood Believes in Strong Bitcoin Performance
Bitcoin (BTC) has actually simply soared past the USD $30k (AUD $45.5 k) mark for the very first time in practically 2 weeks. This follows news broke that BlackRock has actually ended up being the very first Spot ETF to hold over USD $2bn (AUD $3bn) or more than 52,000 Bitcoins.
Bitcoin (BTC), 7-day chart, source: CoinMarketCap
Will this pattern continue or are we seeing another dump quickly? While no one can address that for sure, Cathie Wood, CEO of Ark Invest stated her self-confidence in Bitcoin is just increasing. Wood informed Bloomberg News:
The more unpredictability and volatility there remains in the international economies, the more our self-confidence increases in Bitcoin. And among the factors is we’ve simply been through an inflationary scare– we believe it was quite supply chain driven and Bitcoin is a hedge versus inflation.
Cathie Wood
Worry & & Greed Index Back To Greed
After investing the majority of January in the ‘Greed’ location, the Fear & & Greed Index now stands at 61, after briefly settling in ‘Neutral’ in the middle of the crash recently. Now, things appear to be getting once again, as the index has actually left that neutral zone.
Worry & & Greed Index, January 30, 2024, source: alternative.me
Trader Michaël van de Poppe thinks that Bitcoin is finished with the post Spot Bitcoin ETF approval dump and now rotation back into altcoins will begin over the next 2 weeks before Bitcoin is all set to put in some brand-new highs. The CEO & & creator of MN Trading Consultancy stated the total crypto market cap will continue to pass through towards USD $2 trillion (AUD $3 trillion) over the next couple of months, including that financiers stayed with the slogan “purchase the f *** ing Dip.”
The dip was rapidly purchased up recently.
Michaël van de Poppe
Prospective path for Bitcoin according to van de Poppe, source: Michaël van de Poppe/ TradingView
Author
Aaron Feuerstein
Aaron Feuerstein is a self-employed author based in Melbourne. His focus is on decentralised financing and the regulative area surrounding blockchain. He holds a Master’s in Accounting. When he is not studying the current legal case, he enjoys his time as a modest however excited pastime cook.
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