Bitwise Asset Management Chief Investment Officer Matt Hougan, who interviewed Bloomberg Technology, announced the Bitcoin and crypto money forecasts that will be talked about after the sharp drops over the weekend.
While crypto analysts predict that Bitcoin will reach $100,000 in 2021, the end of the year is approaching and Bitcoin hasn’t even surpassed its all-time high of $69,000. In this context, crypto analysts began to say that they are beginning to doubt that Bitcoin could reach $100,000 by the end of the year.
Bitwise CIO Matt Hougan also stated that he was skeptical about Bitcoin’s end-of-year target, and said that after the sudden drop, he did not see it possible for Bitcoin to break its ATH and reach $100,000 in the next three weeks.
“It’s a tough forecast for Bitcoin to hit $100,000 by the end of the year. I think $100,000 could be the target in 2022, but this year I’m not so sure.”
Stating that the potential rally target in Bitcoin in 2022 will also be supported by institutional investors, Hougan stated that many institutional companies have entered the crypto market for the first time and this will continue.
Ethereum-Based Projects Will Explode!
Noting the growing potential of altcoins and new technologies other than Bitcoin, Bitwise CIO Matt Hougan said:
“Investors will turn to Ethereum, Solana or Polygon. Because investors are starting to realize that cryptocurrencies are more than Bitcoin. If there is a bigger story for next year, I guess it will be cryptocurrencies like DeFi, NFT, Web3 or Metaverse.”
*Not investment advice.