Bear crypto market is near the end: Ark Invest
Cathie Wood shared her stance on the current critical situation of the crypto market and hinted that not much pain remained.
ARK Investment Management LLC is an American investment management firm. Right now Ark manages around $19.4 Billion worth of assets under its management services. However, Ark Invest firm has no direct exposure to crypto-assets but still has an investment in some leading crypto companies.
Through a new video update, Cathie Wood, founder of Ark Invest, stated that the increment in the relationship of performance between crypto-assets and traditional assets is a hint that the crypto market will soon surpass this bear situation.
This statement from the Ark Invest founder came after the noticeable performance (ups and downs) in the price of Bitcoin in correlation with the Nasdaq index.
She said:
“Crypto, a new asset class, should not look like the Nasdaq, but it does. It’s highly correlated right now. You know you’re in a bear market and maybe close to the end when everything starts acting alike, and we’re seeing the capitulation of one market after the other.”
In this current downfall in the crypto assets prices, Cathie is confident with the potential of the crypto market. According to her, the crypto market will perform much better in the long term.
Cathie further added:
“read our Twitter profiles for some hope and optimism because I can’t tell you how excited and confident we are that our platforms are going to transform the world and are entering exponential growth trajectories now.”
According to Ark Invest, the Crypto & blockchain industry is a sector that holds huge numbers of opportunities and will be responsible for exponential growth in the future continuously.
Cathie also claimed that she had never seen such kinds of opportunities in other industries, like crypto, in the last 45 years of experience. She also predicted that the crypto market will reach a position at a comparable level to the Securities & Commodities market.
She predicted that the market will trade at $10 trillion market value in 2035, because of the number of use cases from the blockchain industry like genomic sequencing, robotics, adaptive robotics, energy storage, artificial intelligence, and blockchain technology.
Read also: Fintech expert says XRP may hit $2.55 this year
