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Cathie Wood Predicts Swift Crypto Rebound
29 Nov
Summary
- Cathie Wood expects crypto market liquidity squeeze to reverse soon.
- Federal Reserve to end quantitative tightening by December 1.
- Bitcoin price has reclaimed the $90,000 level amidst optimism.
- Cathie Wood adjusted Bitcoin's 2030 target to $1.2 million.
Cathie Wood, CEO of Ark Invest, has expressed optimism regarding the cryptocurrency market's near-term future, predicting a rebound from its recent downturn within weeks. She indicated that the ongoing liquidity squeeze is expected to ease considerably. This sentiment aligns with broader market observations suggesting improved liquidity conditions.
The Federal Reserve's decision to conclude its quantitative tightening program by December 1 is a significant factor in this forecast. Analysts anticipate this policy shift, coupled with potential interest rate cuts, will inject much-needed liquidity into the market. Bitcoin has already shown positive momentum, reclaiming the $90,000 mark, further fueling expectations of a recovery.
Wood also updated her 2030 Bitcoin price prediction to $1.2 million, attributing the adjustment to the rise of stablecoins. Her firm, Ark Invest, continues to increase its exposure to the crypto sector, recently investing in COIN stock and its own spot Bitcoin ETF.
