Crypto Whales Believe These Altcoins Will Take the Crypto World by Storm – Find Out Why

cryptonews.com:

Cathie Wood, the CEO of Ark Investment Management and a well-known crypto whale, has been a strong supporter of bitcoin for some time. Despite the recent drop in its value, Wood and her team at Ark remain optimistic about the future of the world's largest digital currency as they noted in a recent report on disruptive technologies where they go over the bull case for Bitcoin.

In the report, Ark analysts point out that even with Bitcoin's severe drop from $69,000 to a low of $15,797, it has still outperformed other major asset classes over relatively short time horizons. In fact, over the five years ending in 2022, bitcoin posted a compound annualized return of 8.7%, compared to 6.1% for global equities, negative 1.7% for global debt, and 7% for gold.

According to Ark, bitcoin's fundamentals are stronger now than ever before. The market capitalization of bitcoin as of November 21, 2022 was $393 billion, compared to just $58 billion about five years earlier. This growth in market cap, along with the fact that the amount of bitcoin's supply trading at a loss during 2022 peaked at 68.3%, surpassing previous bear markets, is seen as a positive sign by Ark analysts.

One of the key factors contributing to the growth of bitcoin is the increasing number of long-term investors. Ark defines long-term as 155 days and notes that at the end of 2022, long-term holders owned 71% of the total bitcoin supply outstanding. This shows that investors are becoming more focused on the long-term potential of bitcoin and less likely to sell in response to short-term fluctuations in its value.

Ark also notes that exchanges have increased their transparency in response to the collapse of trust in centralized crypto entities. This increased