Have We Entered a New Cycle in Bitcoin? Bitwise Evaluated!

The world’s largest asset manager BlackRockThe process, which started with ‘s spot Bitcoin ETF application, continued with the applications of other giant companies.

One of the companies that applied for the Spot Bitcoin ETF is one of the leading providers of cryptocurrency index funds. Bitwise Asset Management it happened.

Bitwise is the second largest company to be named spot ETF after BlackRock. Bitwise chief investment officer (CIO) Matt Hougan He spoke to Bloomberg.

CryptoMatt Hougan stated that the industry is shifting towards mainstream finance and a new era has begun, and that this is due to factors such as the increasing interest of institutional investors and the continued development of the sector’s infrastructure.

“Crypto is leaning towards mainstream finance and this is not a sudden event. This is mostly the result of a stable growth trend in the sector.

Cryptocurrency prices have been on the rise since the FTX bankruptcy last November. We are currently in a multi-year bull market that has just begun.

Also, the world’s largest asset manager BlackRock is making significant strides in crypto and says Bitcoin is important.

This makes BTC an asset that institutional investors will want to own for the next five to ten years.

I think we have entered a new crypto age.”

However, Hougan warned investors that the bull market we entered could be full of difficult paths.

Hougan at this point crypto and bitcoin Stating that he continues to be optimistic about the issue in the long term, he attributed this optimism to important institutional interest.

“Large institutional investors have a strong interest in and are entering the crypto market. That’s why he’s applying for a spot Bitcoin ETF.

For these reasons, the long-term outlook on BTC and crypto seems extremely strong.

Regulatory clarity is also important for a better long-term outlook. Every regulatory step forward is a building block for a bull market.”

*Not investment advice.