Katie Wood says cryptocurrency is nearing the end of a bear market

Home / Katie Wood says cryptocurrency is nearing the end of a bear market

Katie Wood, founder of ARK Invest, said the growing correlation between cryptocurrency and traditional assets indicates that the bear market is about to end.
“Cryptocurrency is a new asset class, it doesn’t have to be like the Nasdaq, but it is. They’re highly interconnected right now. You know you’re in a bear market and you’re close to the end of it when things start to behave the same way, and we’re seeing one market capitulation after another,” she said.
According to Wood, blockchain is among a group of sectors that offer opportunities for exponential growth. She sees this sector collectively growing 21 times over the next seven to eight years.

“I’ve been in this business for 45 years, and I’ve never seen the opportunities I see now. Our expectation is that this is a really breakthrough innovation that is now valued at about $10 trillion in global public equity markets, which is about 10% of the global equity market capitalization. We believe that by 2030, $10 trillion will grow to $210 trillion through genomic sequencing, robotics, energy storage, artificial intelligence and blockchain technology,” she concluded.

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