đđIs the Bull Market Over in Bitcoin? Billionaire Investor Cathie Wood Announced! đđ
While Bitcoin worries investors with its declines, analysts state that these corrections are healthy and the bull market continues.
One of these analysts was famous Bitcoin bull Cathie Wood. Speaking in an interview with technology entrepreneur Peter Diamandis on YouTube, ARK Invest CEO Cathie Wood stated that Bitcoin is in the middle of its bull cycle.
Wood argued that Bitcoin's price is trending towards a parabolic rise as it approaches the end of the bull market.
"When we analyze Bitcoin based on on-chain data, we believe we're halfway through the current bull market. And just because we're at this point doesn't mean we're halfway there because at the end of a bull market, prices typically go parabolic. Just based on on-chain data and a decade of history, we're bullish." "We feel very strongly that we are halfway there in the market."
Regarding spot Bitcoin ETFs, Wood suggested that at least one major bank will list these products on their platforms and offer them to their customers in the next few months.
"We see institutional demand continuing to grow. Major institutions such as Morgan Stanley, UBS, Wells Fargo, Bank of America, Merrill Lynch have not yet added a Bitcoin ETF to their platforms. But they are all doing their due diligence. In the next few months, someone will take this step and Others will quickly join this trend."
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