Wed, April 03, 2024 at 19:22

• 

  Joy

  • Hey Annie!

  • Guess what?

  • Cathie Wood from Ark Invest has some interesting insights about the recent Bitcoin rally.

  • She thinks it's not just about the approval of spot Bitcoin ETFs in January, but there's something else going on.

  • 
• Annie

  • Oh, really?🤔 What else could be driving the Bitcoin rally?

  
• 

  Joy

  • Well, Cathie Wood believes that the rally is partially due to a 'flight to safety' that people aren't really talking about.

  • She pointed out that there are currency devaluations happening around the world that people aren't discussing.

  • For instance, the Nigerian naira has fallen between 50% and 60% in the past nine months!😱

  • 
• Annie

  • Wow, that's a huge drop!😲 And you're saying this is causing people to invest in Bitcoin?

  
• ADward

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• 

  Joy

  • Exactly!

  • People are using Bitcoin as a hedge against these devaluations and a loss of purchasing power.

  • This isn't the first time it's happened either.

  • Last year during the regional banking crisis in the U.S., when multiple banks collapsed, Bitcoin climbed 40%!🚀

  • 
• Annie

  • That's interesting!

  • So, what's Cathie Wood's outlook on Bitcoin?

  
• 

  Joy

  • She's as bullish as ever!

  • At the Bitcoin Investor Day conference last month, she upped her prediction for the future price of Bitcoin.

  • She previously said it could reach $1.5 million by 2030, but if institutions end up allocating around 5% of their portfolios to Bitcoin, her projection would soar to $3.8 million by 2030!🤑

  • 
• Annie

  • Wow, that's a bold prediction!😮 What about the upcoming halving event?

  • Could that impact Bitcoin's price?

  
• 

  Joy

  • Absolutely!

  • Many investors are looking forward to the halving event later this month as the next potential catalyst for Bitcoin.

  • Historically, crypto markets have rallied in the months following a halving event.

  • Given the institutional interest in recent months, a lot of investors are expecting Bitcoin to lead the charge.🚀

• Annie

  • I see.

  • So, is this news good or bad for the market?

  
• 

  Joy

  • Well, if you ask me, it's definitely good news!

  • It shows that Bitcoin is being recognized as a safe haven against currency devaluation and loss of purchasing power.

  • Plus, with Cathie Wood's bullish outlook and the upcoming halving event, it seems like there's a lot of potential for Bitcoin's price to rise even further!🎉

  • To sum up, this article is considered a 😍Bullish for investors!!