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Home»BITCOIN NEWS»Bitwise CIO Declares ‘We Are Entering a Golden Age of Cryptocurrency, Ahead of Multi-Year Bull Market’
BITCOIN NEWS

Bitwise CIO Declares ‘We Are Entering a Golden Age of Cryptocurrency, Ahead of Multi-Year Bull Market’

By Crypto FlexsNovember 6, 20243 Mins Read
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Bitwise CIO Declares ‘We Are Entering a Golden Age of Cryptocurrency, Ahead of Multi-Year Bull Market’
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With Donald Trump confirmed to return as president for the 2025-2029 term, Matt Hougan, Chief Investment Officer at Bitwise Asset Management, is optimistic, declaring that the cryptocurrency market has entered a “golden age.” expressed.

Recently video In what Hougan shared on social media platform

A new era in cryptocurrency regulation

Hougan’s optimism stems from a significant market rally sparked by: Trump’s electionHe believes this will lead to a pro-crypto stance in both the Presidency, Congress, and the House of Representatives.

The CIO noted the recent success of the digital asset ecosystem: Bitcoin (BTC) It hit an all-time high of $75,500, and other cryptocurrencies such as Solana (SOL) and other altcoins have also seen significant gains over the past few days.

Hougan claimed that the cryptocurrency industry has been operating under severe constraints for the past eight years and is facing aggressive attacks. enforcement action Numerous lawsuits with the U.S. Securities and Exchange Commission (SEC) have added to the uncertainty.

Bitwise CIO expects that these regulatory pressures will begin to ease within the first 100 days of the new Trump administration, as Republicans have continued to demonstrate support for growth and innovation in the digital asset sector through new regulatory frameworks.

Hougan also envisions an environment characterized by balanced regulation, including clear laws for stablecoins and a framework that allows: institutional investor To better evaluate cryptocurrencies. He argues that this will increase investment flows and adoption, paving the way for a bull market that could last for years.

A key catalyst for continued market momentum

In the video, Hougan also pointed out that the cryptocurrency market is already showing strength ahead of the election, fueled by several catalysts.

Hougan cited a net inflow of $23 billion into Bitcoin. exchange traded fund (ETF) is a strong indicator of growing institutional interest, which is expected to accelerate further in 2025.

He also highlighted the impact of the Bitcoin halving that occurred earlier this year, which has historically contributed to price increases and also impacted the U.S. national debt, which currently stands at $36 trillion and is growing at an alarming rate.

Hougan believes these factors are combined with more supportive factors. political atmosphere For cryptocurrencies, it will maintain market momentum.

While Hougan is optimistic about the future of cryptocurrencies, he also emphasized the need for caution among investors. He acknowledged that the cryptocurrency space is diverse, with both promising and underperforming projects. Understanding the differences between them is important for making informed investment decisions.

The daily chart shows BTC price hitting a new high of $75,500. Source: TradingView.com BTCUSDT

As of this writing, Bitcoin is trading at $75,323 and hit an all-time high of $75,500 on Wednesday.

Featured image of DALL-E, chart from TradingView.com

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