Cathie Wood's Ark Invest Says 'Uptrend' Developing In Bitcoin's Market Structure Because Of This Reason
Portfolio Pulse from Aniket Verma
Ark Invest, led by Cathie Wood, predicts a positive trend for Bitcoin due to oversold conditions in the Stablecoin Supply Ratio Oscillator (SSRO). The SSRO's oversold point suggests a potential uptrend in Bitcoin's market structure. Ark Invest also shows interest in Ethereum as an institutional-grade asset.
October 16, 2024 | 9:44 am
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Ark Invest predicts a positive trend for Bitcoin due to oversold SSRO conditions, which could impact the ARK Innovation ETF (ARKK) as it holds significant crypto-related assets.
Ark Invest's prediction of a positive trend for Bitcoin due to oversold SSRO conditions suggests potential gains for ARKK, which holds crypto-related assets. This aligns with Cathie Wood's bullish stance on Bitcoin.
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RELEVANCE 80