Bitcoin to Reach New Heights, According to Matt Hougan’s Crypto Forecast
Bitwise Asset Management's Chief Investment Officer, Matt Hougan, expressed confidence in Bitcoin's ability to reach new all-time highs in the near future.
He anticipates that Bitcoin will surpass $30,000 soon and eventually hit new all-time highs by next year.
Hougan attributed the crypto market’s recent downturn to scandals that arose from the industry’s rapid expansion, which led to excessive leverage. However, he believes that digital assets have since recovered and are now poised to rebound.
Hougan also criticized the SEC Chair, Gary Gensler, for using outdated regulations to govern the crypto industry. According to him, Gensler’s approach is counterproductive to the industry’s growth and development.
Hougan pointed out that the crypto industry is asking for more clarity and regulations that are tailored to its unique characteristics.
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Hougan highlighted Bitcoin’s strong performance as an asset class, stating that it has grown by 77% year-to-date and is the best-performing asset class in the world. Currently, Bitcoin is trading at $29,416.
Despite its current value, Hougan believes that Bitcoin will eventually break its previous all-time high and continue to grow in the long term.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
