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Home»EXCHANGE NEWS»‘Great tsunami of cash’ expected to see massive rebound in Bitcoin (BTC) price – CIO
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‘Great tsunami of cash’ expected to see massive rebound in Bitcoin (BTC) price – CIO

By Crypto FlexsDecember 7, 20233 Mins Read
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‘Great tsunami of cash’ expected to see massive rebound in Bitcoin (BTC) price – CIO
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Cryptocurrency markets are filled with optimism this week as Bitcoin and major altcoins recover from recent bear markets. mat hoganBitwise Asset Management’s Chief Investment Officer added to the enthusiasm in a recent interview, predicting Bitcoin will surge to all-time highs.


key point

  • ITwise CIO Matt Hougan predicts Bitcoin will hit a new all-time high amid the ongoing cryptocurrency market rally.
  • Key drivers include expectations for a Bitcoin spot ETF, low interest rates, and unprecedented institutional investment.
  • Hougan believes that an influx of “big money” from major financial institutions will fuel further rises in the price of BTC.
  • He claims that the cryptocurrency winter is over and the “crypto spring” has given way to a multi-year bull market.
  • Mainstream cryptocurrency adoption is accelerating with the participation of prominent institutions such as Fidelity and BlackRock.

Hougan started by contextualizing the ongoing cryptocurrency rally with macro market trends. He linked the simultaneous rise in cryptocurrencies and gold to investors turning to inflation-resistant assets amid economic uncertainty.

In particular, falling interest rates and expectations of Federal Reserve cuts also make Bitcoin’s deflationary design more attractive. The convergence of these catalysts explains the accelerating influx into digital currencies, Hougan says.

However, Bitwise executives also highlighted several cryptocurrency-related drivers fueling the bullish momentum. First of all, the hype is snowballing for a Bitcoin spot ETF that could finally receive regulatory approval this year. ETFs provide mainstream stock investors with seamless exposure to BTC price movements.

Hougan also points to the surge of institutional investment pouring into cryptocurrencies at an unprecedented rate. With major financial powerhouses like BlackRock actively participating across asset classes, the stage is set for even greater growth.

This influx of “big money” has led Hougan to emphatically declare that a new all-time high for Bitcoin is imminent. He argues that the dynamics now are fundamentally different from past retailer-led rallies. He expects a continued boom in the coming years with high-profile institutions legalizing cryptocurrency assets.

Hougan went so far as to declare that the cryptocurrency winter is over. The spring of cryptocurrency has arrived. While previous discourse focused on ugly figures like Sam Bankman-Fried, it now highlights financial giants like Fidelity that offer cryptocurrency services.

Mainstream adoption is likely to expand along with major price increases. Of course, Hougan cautions that intermittent volatility should be expected. But in his view, Bitcoin’s long-term trajectory is decidedly upward.

If his vision comes to fruition over the next six months to a year, early cryptocurrency investors may once again have the last laugh. The slow surrender of parts of Wall Street to blockchain technology seems to indicate that Bitwise management is onto something.

Cryptocurrencies recovering from the winter to thrive this spring will further solidify cryptocurrencies as a massive innovation.

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