Cathie Wood shares her take on Bitcoin’s growth
In a recent interview with CNBC anchor Andrew Sorkin, renowned Bitcoiner and chief executive at Ark Invest Cathie Wood shared her take on why Bitcoin had been going up parabolically lately until the recent price fall took place. Sorkin assumed that BTC had been moving in line with the price curves of the Nasdaq 100 index, which makes Bitcoin a risk-on asset.
“Bitcoin mirrors Nasdaq movements”
Echoing Andrew Sorkin’s take on the recent Bitcoin price rise, cryptocurrency trader and analyst Ali Martinez, who has gained popularity on the X/Twitter social media platform over the past few years, has published a tweet to say he believes that Bitcoin has been mirroring Nasdaq 100 price movements.
The two charts that he published show that even the current Bitcoin pullback coincides with a similar move made by Nasdaq. In order to validate this pattern, the analyst stated, Bitcoin needs to make a swift recovery above the $69,000 price line.
At the time of writing, the world’s first cryptocurrency is changing hands at $66,623.
