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ARK Invest is bullish on the bitcoin price† ARK Invest is a massive investor managing $20 billion in assets. They mainly invest in growth stocks, but also in crypto. ARK Invest recognizes that crypto will play an important role in the future.
Recently, ARK Invest published a comprehensive report on bitcoin. Here are several reasons why they are currently bullish on bitcoin. For example, they see that the Bitcoin network is still growing tremendously. For example, the transaction volume on the Bitcoin network increased by 35% in May compared to the month of April. ARK Invest also indicates that bitcoin investors are increasingly focused on the long term. Nearly 66% of the bitcoins in circulation have not moved in the past year, meaning investors would rather hold than sell their bitcoins.
ARK Invest on the price of bitcoin
At the same time, ARK Invest sees that the price of bitcoin is increasingly linked to the price of the stock market. When stocks go up, bitcoin goes up too. And if they go down, Bitcoin goes down too.
In addition, many futures contracts are currently open. This is an indicator that we can expect a lot of volatility, in other words: the price of bitcoin can go up or down quickly in the short term. ARK Invest is in any case of the opinion that this volatility will take place upwards. If that happens, it will be very bullish for the bitcoin price!
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