TechFlow, December 9 — According to Crypto Briefing, ARK Invest CEO Cathie Wood stated that Bitcoin is transitioning into a new phase, and institutional adoption could prevent severe price declines.
In an interview, Wood said: "We believe the four-year cycle will be broken. Bitcoin used to drop 75% to 90% in its early days, but volatility is decreasing, with drawdowns now around 30% or slightly more." Wood believes that although Bitcoin currently behaves as a risk asset, institutional involvement may prevent deeper corrections, adding, "We might have already seen the low point a few weeks ago." She predicted that Bitcoin could outperform gold next year, which has risen nearly 60% year-to-date. Wood noted that while gold is more of a safe-haven asset, during this golden age of innovation, Bitcoin will regain its status as a risk asset and re-engage with the market.
