Matt Hougan, Chief Investment Officer of Bitwise Asset Management, said that the future of cryptocurrencies could see new highs. Bitcoin announced the prediction. Hougan believes that institutional investors are important on the path to this summit.
Participating in a new interview on CNBC Matt HouganHe started by touching on the recent increase in Bitcoin and other cryptocurrencies and drew attention to the simultaneous rise in gold prices. He argues that this phenomenon reflects a broader trend in which investors are moving towards assets that are sensitive to inflation and can provide a hedge against economic uncertainties.
According to Bitwise CIO, as reported by Koinfinans.com, falling interest rates in the US and expectations of future interest rate cuts further strengthen this trend. In addition, Hougan highlighted some other important factors behind the ongoing crypto rally.
In particular, in the USA Bitcoin Spot ETFThe potential promotion of stands out as a very important factor. The prospect of this ETF has been a topic of discussion within the cryptocurrency community for some time, and Hougan believes that its implementation could significantly impact the market. Major financial institutions, including BlackRock, are now actively interested in cryptocurrencies, indicating a significant shift in market dynamics.
Expressing optimism about the future of Bitcoin, Hougan suggested that the current crypto bull market is unique. Unlike in the past when retail traders dominated Bitcoin’s rise, the current rise is fueled by professional and institutional investors.
One of Hougan’s most striking statements was that he declared that the period called “crypto winter” was over. He compared the previous focus on downside events and assets in the crypto space to the current emphasis on reputable firms like Fidelity and BlackRock entering the space.