tl;dr
Bitwise CIO Matt Hougan predicts that Bitcoin will reach six figures next year, citing factors such as the recent halving event, potential ETF growth, and the Fed cutting rates. He anticipates new all-time highs by the end of the year and suggests that the rally may have already started, with substa...
Bitwise CIO Matt Hougan predicts that Bitcoin will reach six figures next year, citing factors such as the recent halving event, potential ETF growth, and the Fed cutting rates. He anticipates new all-time highs by the end of the year and suggests that the rally may have already started, with substantial liquidity available for investment.
The chief investment officer of crypto asset management firm Bitwise believes Bitcoin (BTC) will hit six figures sometime next year. In a new interview on the Altcoin Daily YouTube channel with Aaron Arnold, Bitwise CIO Matt Hougan says that multiple factors seem to be lining up to make 2025 a big year for Bitcoin.
“I think it’s going to be a new all-time high. I think it’s going to be six-figure Bitcoin for sure. And the question is, is it a one handle or is it a two handle? When I say for sure, of course, there are no guarantees. It’s a risky market. You should only invest what you can lose. But the setup for 2025 is really exceptional.”
Hougan says one of the reasons to be bullish on Bitcoin is the effects of the most recent halving event in April, when miners' rewards were cut in half. “This is about the period in Bitcoin’s history where you start to feel the effects of the halving.” He also expects the spot Bitcoin exchange-traded funds (ETFs) “will be bigger” next year.
Other bullish catalysts, he says, include the Fed cutting rates. Hougan believes that Bitcoin may start hitting fresh all-time highs in less than three months. “Our view at Bitwise is that crypto will end the year at new all-time highs. It was just a question of when the rally would begin. It’s possible the rally has already begun.” He also says that investors have plenty of liquidity at the ready that they can sink into the crypto market. “There is a really significant amount of money on the sidelines.”
Bitcoin is trading for $67,028 at time of writing.
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As a seasoned Technical Analyst with over 25 years of experience in the stock market, my approach is data-driven and focused on deep analysis of market charts, trends, and technical indicators such as moving averages, RSI, and Bollinger Bands.
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As a seasoned Technical Analyst with over 25 years of experience, my approach to stock market analysis is deeply rooted in data-driven methodologies. I utilize a wide array of technical indicators such as moving averages, the Relative Strength Index (RSI), and Bollinger Bands to decipher market trends and patterns.
My analyses are characterized by a demystification of technical jargon, making complex concepts such as 'support and resistance levels,' 'breakouts,' and 'bullish or bearish trends' accessible to all audiences.
I offer straightforward, actionable insights while acknowledging the inherent uncertainties of market prediction, emphasizing the principle that past market behavior does not guarantee future performance.
Through my expertise, I aim to empower readers with the knowledge to make informed decisions in the volatile landscape of the stock market.
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