Big Bull Cathie Wood Shares Her Short-Term Price Expectations for Bitcoin (BTC)!

Cathie Wood, CEO of Ark Invest and known as a big bull in the market, continues to make bold statements about Bitcoin.

At this point, Cathie Wood stated that most of the selling pressure on $BTC has ended and the uptrend will resume.

Speaking to Fox Business, Cathie Wood stated that the recent drop in Bitcoin ($BTC) price was due to the effects of a large-scale delegitimization event that occurred last October.

The CEO of Ark Invest stated that the recent drop in Bitcoin was due to leveraged liquidations totaling approximately $28 billion, and that selling pressure has significantly decreased at that point.

Speaking about current market conditions, Wood stated that much of the selling pressure has already passed, and that Bitcoin is likely to consolidate between $80,000 and $90,000 for now.

Wood’s assessment corresponds to the final phase of the downturn in the four-year cycle.

Finally, Wood stated that Bitcoin will enter an upward trend again after completing its correction process, adding that the current bull cycle remains valid.

However, Wood predicts that Bitcoin will consolidate between $80,000 and $90,000 before completing its four-year downtrend and resuming its upward movement.

*This is not investment advice.