Katie Wood says bitcoin price has ended a four-year decline

Katie Wood, CEO of Ark Invest and a well-known bitcoin supporter BTC $89,525.52 Mezo Wrapped BTC 0.69% Market capitalization $52.38 million VOL. 24 hours $1.59 billion , said that the long-term downtrend in the four-year Bitcoin cycle is almost over. She emphasized on CNBC’s Halftime Report that the current correction is one of the least deep in the history of the cryptocurrency.

Wood dismissed fears of a prolonged decline, emphasizing that the market is already close to the bottom. According to her, investors should focus on future growth, as Bitcoin has not yet demonstrated the upswing that usually accompanies bull markets.

She noted that the previous growth cycle was weaker than expected, and this is what limited the scale of the current pullback. At the same time, Katie Wood warned that the price could test a support level of around $ 80,000 before moving to a new all-time high.

In her opinion, the current decline could be the shortest in the four-year history of Bitcoin cycles. «We are going to experience the smallest drop in the short history of Bitcoin, and then we will go up again,» she concluded.

Katie Wood’s forecast fits into the general picture of optimism among some investors who believe that after a period of correction, the cryptocurrency is once again preparing for a phase of active growth.