Katie Wood predicts a blockchain technology boom amid Donald Trump’s victory

Ark Invest CEO Katie Wood said that reducing government regulations and restrictions on businesses and industries at the national level could be a driving force for technological innovation.

In particular, key industries covering 14 different technologies are on the verge of entering a stage of exponential growth, including

• robotics
• energy storage
• artificial intelligence
• blockchain
• multi-omic sequencing.

According to Wood, technological advances often lead to deflationary effects due to their ability to significantly increase productivity, which results in lower prices or slower growth in some areas.

The analyst added that despite his previous criticism of cryptocurrencies, including statements that they are a «disaster waiting to happen» and measures against Bitcoin in 2018, Donald Trump has recently tried to position himself as a more cryptocurrency-friendly candidate in an effort to differentiate himself from the current administration.

By the way, CryptoQuant analyst CoinLupin predicted a further rise in the price of the cryptocurrency to $ 120,000 on November 5 amid the growing trend of Bitcoin on Election Day in the United States .

As a reminder, on Wednesday, November 6, bitcoin reached a new all-time high, exceeding $ 75,000 amid preliminary results of the US election, where Donald Trump is ahead of Kamala Harris. Subsequently, on the night of November 7, 2024, bitcoin updated its all-time high again, reaching a peak of $ 76,203.