By cryptoadmin Bitwise Chief Investment Officer (CIO) Matt Hougan has made striking assessments regarding the current state of Bitcoin and the cryptocurrency markets. Analyzing recent developments in the sector, Hougan gives significant signals that the market may be on the verge of emerging from a “hidden” bear market.
Although the Bitcoin price has been fluctuating within a certain range for some time, Hougan notes that the market is actually undergoing a recovery process beneath the surface. He states that the period investors have dubbed the “crypto winter” is nearing its end, and that this process is progressing quietly but steadily.
Interest in Bitcoin ETFs continues to grow at the institutional level. Hougan states that the perspective of professional investors and large financial institutions towards crypto assets has permanently changed, creating a strong support level for Bitcoin.
Matt Hougan states that Bitcoin is influenced more by long-term macroeconomic factors than short-term fluctuations. He specifically mentions that inflation data and central bank monetary policies will be decisive for cryptocurrencies. According to the expert, the supply-demand balance in the market is creating a favorable environment for Bitcoin to reach new highs.
According to Hougan, the end of the crypto winter doesn’t depend on a single event; he predicts that a combination of factors such as Fed interest rate cuts, the US elections being over, and accelerated ETF inflows will trigger an “upward explosion” in the market.
*This is not investment advice.