Ark Invest CEO Says Bitcoin Is In Surrender Phase Predicting Bitcoin Price To Be $ 500,000 – Film Daily

As we all know, the price of Bitcoin has been going down lately, and this has been a significant drop that has affected Bitcoin investors from around the world. But despite this significant drop in Bitcoin value, Cathie Wood, CEO of Ark Investment Management, still says Bitcoin prices will be around $ 500,000. Additionally, she said that all of these meters mean that the bitcoins are in the surrender phase and it is really an excellent time for people to buy. If you want to know more about bitcoins, you can read more about it Bitcoin trading in South Korea

Cathie Wood sees Bitcoin rise to $ 500,000!

  • The CEO of the ark invest group explained her position on the current scenario of the Bitcoin market and the forecast of the Bitcoin price increase. She shared it in her latest interview with Bloomberg Wednesday.
  • You need to know that the wood also previously predicted that the value of Bitcoin would go up to $ 500,000. But after the recent decline in the value of Bitcoin and the sell-off of Bitcoins around the world, she was asked again whether or not she still stood by her forecast. And regarding the work and research her firm’s cryptanalyst has done, she said she was still standing by her prediction that Bitcoin would rise to a value of $ 500,000.
  • She added that the only thing that has changed now is that Bitcoin is raising environmental concerns and, in particular, has caused people to withdraw from Bitcoin. Recently, Tesla company owner Elon Musk announced that it would stop accepting Bitcoin as a means of payment, all for environmental reasons.
  • It should be noted here, however, that Elon Musk has also confirmed that the Tesla company did not sell the bitcoins it bought. It is important that you understand the fact that when the bitcoin price fell this week, Elon Musk also tweeted the diamond hand emojis, which meant that Tesla was not going to sell its bitcoins.
  • Well, to express the environmental concerns of some people like Elon Musk, the CEO of Ark Invest, said that this is definitely going to change. Because in the current situation, the proportion of bitcoins that are mined using both renewable energies and hydropower is very high. She added that China currently has more than 50% renewable energy.
  • You will be amazed that she also prefers a paper that has the ark with the square inc. in which they discussed how Bitcoin is the key to the future of abundant and clean energy. Furthermore, this week only ARK management argued that Bitcoin can also be a clear plus for the environment.
  • She was also asked how low the price of Bitcoin can fall from its current value and she said how low it will be since the market is now quite emotional. Many traders expect Bitcoin price to drop below the 200 day moving average, which was $ 40,000. Once that happens, the traders will offload all of the bitcoins and they will run.
  • According to her, bitcoin is the state of surrender, and this is the stage when we should buy bitcoin and not sell it. Knowing that more and more people are throwing away their bitcoins thinking that the value of bitcoin will go down, she said that all the indicators that are suggested, the current situation is the surrender situation and the price of bitcoin would certainly go up. You shouldn’t get rid of your bitcoin at this point, but instead buy more of it as the price of bitcoin is expected to go up very soon and in your opinion the bitcoin price will hit the $ 500,000 level.

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