Cathie Wood Predicts Stability for Bitcoin Amid $34K Target

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ARK Invest CEO Cathie Wood said that Bitcoin as a "proven" asset would no longer experience drawdowns of 85% or more from all-time highs.

Bitcoin (BTC) is “done” with drawdowns of 85% or more from all-time highs, says ARK Invest CEO, Cathie Wood.

Bitcoin will not see another correction of 85% or more versus its latest all-time high, Cathie Wood argues.

A new prediction sees $34,000 becoming the next BTC price bottom.

Bitcoin bear-market seasonality hints that a reversal could come this month.

Wood on BTC price: No more 85% “collapses”
In an interview with CNBC’s Squawk Box segment on April 1, Wood stayed calm about double-digit BTC price losses.

“Believe it or not, in the Bitcoin community, down 50% — if that’s as far as it goes — they’ll consider that a real victory,” she said.


Massive profits made from this call

The trader pointed out that a breakout above this level could propel BTC to new all-time highs. 

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