Here's What Cathie Wood and Her Team Think About Bitcoin Today
Cathie Wood and her team at Ark Investment Management are huge fans of innovation, so naturally, they love Bitcoin (CRYPTO: BTC). Every month Ark's analysts take a deep dive into some key metrics on the Bitcoin network, which provide a glimpse of levels of activity and patterns that might affect prices.
The reports are retrospective and analyze the prior month, so the most recent report looked back at December. Bitcoin's price didn't do much of anything in December. Despite its lackluster performance during the month and a lack of notable statistics (neither positive or negative), Ark's analysts surmised that Bitcoin might be preparing for a significant move.
Ark found that Bitcoin's volatility in December hit its lowest level since late 2020. Before that it hadn't been this low since late 2018. Typically when volatility gets this low and for this long, some sort of price movement awaits. Ark analysts didn't specify whether it would be for the better or worse, but it looks as though it swung in favor of investors as Bitcoin has been on a tear, posting a gain of more than 25% since the new year.
Source Fool.com
