{"id":480823,"date":"2022-01-11T17:00:46","date_gmt":"2022-01-11T17:00:46","guid":{"rendered":"https:\/\/wncen.com\/?p=480823"},"modified":"2024-06-11T07:04:44","modified_gmt":"2024-06-11T07:04:44","slug":"ark-invest-ceo-cathie-wood-on-what-will-drive-bitcoin-correction","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ark-invest-ceo-cathie-wood-on-what-will-drive-bitcoin-correction\/","title":{"rendered":"ARK Invest CEO Cathie Wood On What Will Drive Bitcoin Correction"},"content":{"rendered":"

The price of bitcoin continues to struggle and investors look towards various indicators to know when the price of the digital asset would begin to correct once again. While some indicators have shown promise in predicting what may yet come, it remains a guessing game as bitcoin has always been known to have a mind of its own when it comes to price movements.<\/p>\n

To this end, Cathie Wood, famed CEO of ARK Invest, has shared some interesting thoughts around the market correction and what will drive it. The bitcoin bull continues to look towards the crypto market through a positive lens as she shares what will bring about the market correction.<\/p>\n

Related Reading |\u00a0Bitcoin Discount? Peter Brandt On Why You Shouldn\u2019t Buy The Dip<\/a><\/strong><\/em><\/p>\n

Crypto Market Succumbs To Strike Against Technology<\/h2>\n

The whole of the crypto market is built on the back of new technology and as such, will sometimes follow technology trends in the broader market. ARK Invest CEO Cathie Wood posits in a new video<\/a> on the ARK Invest YouTube channel that this is what is behind the recent crashes.<\/p>\n

Basically, there has been a strike against technology, growth, and innovation in the equity markets and the spillover of this strike is what brought down prices across the crypto market. However, the CEO does not expect this strike to last long.<\/p>\n

Related Reading |\u00a0Galaxy Digital CEO Mike Novogratz Says Bitcoin Has Hit The Bottom<\/a><\/strong><\/em><\/p>\n

Addressing the concerns about technology and innovation stocks being in a bubble, the CEO discounts this theory. Instead, explaining that these stocks are merely in what she refers to as a \u201cdeep value territory.\u201d<\/p>\n

Wood is known to take risky bets on technology and innovation assets, which have paid off in the long run for her fund, as well as her clients. For the CEO, Bitcoin falls into this territory and has been vocal about her support for the digital asset.<\/p>\n

She also predicts a highly profitable future for tech and innovation assets, expecting a 10x growth in the next 10 years.<\/p>\n

\n

\u201cBased on the last eight years of our research, the opportunities will scale from $10-12 trillion today, or roughly 10% of the global public equity market cap, to $200+ trillion during the next ten years.\u201d<\/p>\n<\/blockquote>\n

Where Is Bitcoin Headed?<\/h2>\n

The new year is now in full swing and the implications of the holiday spending have been showing on the markets. Bitcoin which hit its all-time high of $69K last year has since lost over 30% of its value. The price is not in the $41,000 range, where it continues to struggle as bears try to pull it down.<\/p>\n

\"Bitcoin<\/p>\n

BTC trading north of $41K | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
For Cathie Wood, it has always been about the long game. Last year, the CEO, at various times, said<\/a> that she expects the price of bitcoin to grow 10x from its value at the time. She attributes this growth to institutional investors finally moving at least 5% of their portfolios into the digital asset, at which point, bitcoin\u2019s price will grow as high as $500,000 apiece.<\/p>\n
Featured image from Page One, chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
The price of bitcoin continues to struggle and investors look towards various indicators to know when the price of the digital asset would begin to correct once again. While some indicators have shown promise in predicting what may yet come, it remains a guessing game as bitcoin has always been known to have a mind of its own when it comes to price movements. To this end, Cathie Wood, famed CEO of ARK Invest, has shared some interesting thoughts around the market correction and what will drive it. The bitcoin bull continues to look towards the crypto market through a positive lens as she shares what will bring about the market correction. Related Reading |\u00a0Bitcoin Discount? Peter Brandt On Why You Shouldn\u2019t Buy The Dip Crypto Market Succumbs To Strike Against Technology The whole of the crypto market is built on the back of new technology and as such, will sometimes follow technology trends in the broader market. ARK Invest CEO Cathie Wood posits in a new video on the ARK Invest YouTube channel that this is what is behind the recent crashes. Basically, there has been a strike against technology, growth, and innovation in the equity markets and the spillover of this strike is what brought down prices across the crypto market. However, the CEO does not expect this strike to last long. Related Reading |\u00a0Galaxy Digital CEO Mike Novogratz Says Bitcoin Has Hit The Bottom Addressing the concerns about technology and innovation stocks being in a bubble, the CEO discounts this theory. Instead, explaining that these stocks are merely in what she refers to as a \u201cdeep value territory.\u201d Wood is known to take risky bets on technology and innovation assets, which have paid off in the long run for her fund, as well as her clients. For the CEO, Bitcoin falls into this territory and has been vocal about her support for the digital asset. She also predicts a highly profitable future for tech and innovation assets, expecting a 10x growth in the next 10 years. \u201cBased on the last eight years of our research, the opportunities will scale from $10-12 trillion today, or roughly 10% of the global public equity market cap, to $200+ trillion during the next ten years.\u201d Where Is Bitcoin Headed? The new year is now in full swing and the implications of the holiday spending have been showing on the markets. Bitcoin which hit its all-time high of $69K last year has since lost over 30% of its value. The price is not in the $41,000 range, where it continues to struggle as bears try to pull it down. BTC trading north of $41K | Source: BTCUSD on TradingView.com For Cathie Wood, it has always been about the long game. Last year, the CEO, at various times, said that she expects the price of bitcoin to grow 10x from its value at the time. She attributes this growth to institutional investors finally moving at least 5% of their portfolios into the digital asset, at which point, bitcoin\u2019s price will grow as high as $500,000 apiece. Featured image from Page One, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":480825,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[8861,428,84434,679,1119,55016,10923],"class_list":["post-480823","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ark-invest","tag-bitcoin","tag-bitcoin-correction","tag-bitcoin-price","tag-btc","tag-cathie-wood","tag-crypto-market"],"acf":[],"yoast_head":"\nARK Invest CEO Cathie Wood On What Will Drive Bitcoin Correction<\/title>\n<meta name=\"description\" content=\"The price of bitcoin continues to struggle and investors look towards various indicators to know when the price of the digital asset would begin to\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"ARK Invest CEO Cathie Wood On What Will Drive Bitcoin Correction","url":"http:\/\/wncen.com\/news\/ark-invest-ceo-cathie-wood-on-what-will-drive-bitcoin-correction\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ark-invest-ceo-cathie-wood-on-what-will-drive-bitcoin-correction\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/cathie-wood.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/cathie-wood.jpeg?fit=1320%2C742"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ark invest","bitcoin","bitcoin correction","bitcoin price","btc","cathie wood","crypto market"],"dateCreated":"2022-01-11T17:00:46Z","datePublished":"2022-01-11T17:00:46Z","dateModified":"2024-06-11T07:04:44Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"ARK Invest CEO Cathie Wood On What Will Drive Bitcoin Correction\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ark-invest-ceo-cathie-wood-on-what-will-drive-bitcoin-correction\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ark-invest-ceo-cathie-wood-on-what-will-drive-bitcoin-correction\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/cathie-wood.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/cathie-wood.jpeg?fit=1320%2C742\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ark invest\",\"bitcoin\",\"bitcoin correction\",\"bitcoin price\",\"btc\",\"cathie wood\",\"crypto market\"],\"dateCreated\":\"2022-01-11T17:00:46Z\",\"datePublished\":\"2022-01-11T17:00:46Z\",\"dateModified\":\"2024-06-11T07:04:44Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/cathie-wood.jpeg?fit=1320%2C742","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/480823"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=480823"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/480823\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/480825"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=480823"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=480823"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=480823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}