Is the bull market halfway over?
How far has Bitcoin’s ($BTC) bull market gone? Recently, Cathie Wood, CEO of ARK Invest, known as the "Ark Female Stock God", suggested in an interview that the current bull market is likely to be "halfway".
In an interview with tech entrepreneur Peter Diamandis on his YouTube show, Cathie Wood discusses the Bitcoin halving, Apple/Open AI, NVIDIA, humanoid robots, and more, and provides a detailed analysis of Bitcoin’s bull cycle.
See parabolic rise soon
Cathie Wood said that in the ARK Invest team, there are four employees dedicated to researching the encryption field, one of whom is engaged in Bitcoin on-chain analysis. According to their research, the current Bitcoin bull market is “only half over.”
The reason why we say "only half of the past" is because this timeline does not mean that half of the price rise has been completed. Cathie Wood explained that usually in the final stage of a bull market, prices tend to rise rapidly in a parabolic shape, reaching a new level. High Point.
For example, in the bull markets of 2017 and 2021, Bitcoin ($BTC) rose sharply in the last few months and reached all-time highs. Although Bitcoin had already exceeded all-time highs in March, Reaching $74,000, but compared with the historical bull market, such an increase is obviously not enough to indicate that the bull market is over.
Mainstream banks are entering the market
Interestingly, Cathie Wood is more concerned about adoption from mainstream banks than other market catalysts. She predicts that at least one major financial institution (other than exchanges) may start listing a Bitcoin spot ETF in the next few months. , and further drive the adoption rate of Bitcoin to increase.
Cathie Wood pointed out that since the launch of the Bitcoin spot ETF in January this year, no major financial institution (wirehouses) has put Bitcoin on the platform, including Morgan Stanley, UBS, Wells Fargo, Bank of America and Merrill Lynch and other large financial institutions are still in the investigation stage.
She believes that in the next few months, investors are likely to see some independent registered investment advisers (RIAs) start to add Bitcoin spot ETFs to the platform, and once these platforms begin to adopt Bitcoin spot ETFs, the market will From a competitive perspective, others will soon follow suit.
What do experts think?
Regarding Cathie Wood's point of view, many experts affirmed that with the entry of mainstream financial institutions, the legitimacy and acceptance of Bitcoin will be significantly improved. This is not just a simple inflow of funds driving up prices, but also a change in the overall atmosphere brought about by the increased recognition of Bitcoin as an orthodox asset class.
John Doe, an analyst at cryptocurrency research firm Chainalysis, pointed out that if mainstream banks start to adopt Bitcoin, it will be a huge signal that Bitcoin has transformed from a fringe asset to a mainstream investment tool, which will attract more of institutional investors entering the market.
