Bitwise Chief Investment Officer Matt Hougan expects a major buying opportunity in crypto but has no timeline, as markets continue to weigh political, exchange and monetary pressures.
Hougan named elections, Binance and tighter monetary policy as issues the market is still absorbing. In an earlier assessment of the cycle low, he said crypto could face several more weeks of uncertainty.
He likened the current mood to 2018, when many participants left the market. Decentralized finance (DeFi) helped crypto advance after that downturn, Hougan said, and another innovation might have a comparable effect. He cautioned that such a shift is difficult to anticipate. In his view, a market-changing idea that was easy to foresee would already allow businesses to develop investment plans worth billions of dollars.
