Bitwise CIO Matt Hougan says digital assets are likely to enter a bullish phase over the next six months as the market digests the new crypto-friendly US presidential administration.
In a post on the social media platform
“On my first road trip of the year, I spoke to traditional investors. One conclusion: the change in Washington’s attitude towards crypto is not priced in. The reason is that it is difficult for people outside of crypto to imagine how oppressive the environment has been.
Unless you’ve been close to crypto, things like Operation Choke Point 2.0 and “arbitrary and capricious” regulators sound like conspiracy theories. I suspect the market will quickly revalue crypto over the next six months as it realizes the magnitude of the shift.”
Earlier this month, Hougan said that Bitcoin adoption by nation states could ultimately be the key catalyst that sends BTC to much higher prices.
Bitwise CEO Hunter Horsley recently said in a post on
“We just provided some information to a nation state asking about Bitcoin ETFs.
Consider moving some exposure from foreign currency government bonds to BTC.
Bitcoin is entering a new chapter.”
At the time of writing, BTC is trading at $105,338.
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Generated image: Midjourney