Ark Invest: Still Bullish on Bitcoin Long-Term Outlook, Current Market Sentiment Overly Bearish

BlockBeats News, March 12th: Despite the significant market downturn in March, Cathie Wood's investment firm Ark Invest remains optimistic about Bitcoin. On Tuesday, Ark Invest stated in a report: "Ark remains optimistic about the long-term outlook for Bitcoin, believing that policy changes and technological breakthroughs in areas such as artificial intelligence and robotics will reignite spending and boost productivity."

Ark Invest also noted that regulatory easing and tax cuts are potential key drivers for Bitcoin to recover from the current market turmoil. The market has become overly pessimistic about the current macroeconomic and geopolitical sentiment.