"Cathie Wood stated that Bitcoin's usual -85% collapses are 'DONE.' She emphasized that 'this is a proven technology, it's a proven monetary system, and it's a new asset class.'"
"Wood argued that a roughly 50% drop from peak levels represents a shift from the extreme volatility seen in earlier cycles, when Bitcoin routinely experienced drawdowns of 85% to 95%."
Bitcoin has fallen about 47% from its all-time high of $126,080 on October 6, trading around $67,000. Cathie Wood encourages a long-term perspective for investors. She believes the current downturn signifies maturation, contrasting it with previous cycles where Bitcoin experienced 85% to 95% drawdowns. Wood asserts that such severe collapses are unlikely to happen again, describing Bitcoin as a proven technology and a new asset class. She views the current correction as a potential victory if losses remain around 50% of peak value.
Read at Bitcoin Magazine
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