Crypto’s Next Bull Market Will Be Biggest Ever, Predicts Strategist at $1,300,000,000 Fund – But There’s a Catch

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The chief invest­ment offi­cer of Bit­wise Invest­ments cryp­to fund, Matt Hougan, is express­ing bull­ish mar­ket sentiment.

Hougan says in an investor let­ter that the cryp­to mar­ket is “well posi­tioned to stage a recov­ery” and chart a path to a record-break­ing bull­ish cycle.

“In the end, how­ev­er, we believe cryp­to will recov­er. His­tor­i­cal­ly, cryp­to has bounced back from every major pull­back. We don’t think this one will be different.

In fact, we think the next bull mar­ket in cryp­to will be the biggest yet – with new all-time highs and a wave of new appli­ca­tions that impact main­stream adoption.”

Accord­ing to Hougan, some of the rea­sons for the bull­ish­ness include the growth and inno­va­tion wit­nessed in the cryp­to industry.

“Tech­no­log­i­cal blockchain improve­ments like Ethereum’s Merge, scal­ing advances like the rise of Layer‑2 solu­tions and a sim­mer­ing stew of emerg­ing new appli­ca­tions have us bullish.”

The Bit­wise CIO, how­ev­er, says that the cryp­to mar­ket will have a U‑shaped recov­ery or long-wind­ed recov­ery rather than a quick rebound or a V‑shaped one.

“We sus­pect the mar­ket will grind side­ways for a peri­od before enter­ing its next bull­ish phase. There is even a mean­ing­ful risk of anoth­er leg down, cat­alyzed by anoth­er cryp­to com­pa­ny fail­ure, token blowup, or reg­u­la­to­ry action.”

Accord­ing to Hougan, the recov­ery will not be a walk in the park.

“Recov­ery won’t be easy, though. The fraud-rid­den implo­sion of FTX and the broad­er cryp­to cred­it cri­sis casts a long, dark shad­ow over the space. Reg­u­la­tors are cir­cling, bank­ing rela­tion­ships are frayed, and investors are skeptical. 

In addi­tion, new risks – like the planned release of 127,000 bit­coin from the Mt. Gox set­tle­ment lat­er this year, and dis­tress in the bit­coin min­ing space – loom on the horizon.”

A months-old report puts Bitwise’s assets under man­age­ment at $1.3 billion.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Gen­er­at­ed Image: Midjourney



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