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JUST IN: Cathie Wood, CEO of ARK Invest, asserted that Bitcoin has reached a level of maturity and institutionalization that makes the 85% to 95% drops seen in previous cycles unlikely.
Her comments come at a time of market tension, with BTC hovering around $67,000 and analysts divided on what the true bottom of the cycle might be.
Cathie Wood stated that Bitcoin is now a proven technology and monetary system.
The CEO of ARK Invest believes that institutionalization has reduced the likelihood of extreme crashes.