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Cathie Wood Expects Bitcoin To Reach $500,000 Inflation Concerns: Wood told Bloomberg she thinks all assets are in a risk-off period. The innovation sector of the stock market has pulled back dramatically since February as a result of inflation concerns, Wood said. These concerns were initially helping Bitcoin (CRYPTO:$BTC), she said. The cryptocurrency is a very important hedge against inflation, but Wood said she believes the current sell-off in Bitcoin is a correlation amongst all volatile assets.  Bitcoin Buying Opportunity: When the market becomes emotional, it s hard to predict the lows, Wood said, adding she thinks the sell-off in Bitcoin is a buying opportunity.

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