The chief investment officer of crypto asset management company Bitwise believes Bitcoin (BTC) will reach six digits within the next year.
In a new interview with Aaron Arnold on the Altcoin Daily YouTube channel, Bitwise CIO Matt Hougan says multiple factors appear to be converging to make 2025 a big year for Bitcoin.
“I think it will hit a new all-time high. I definitely think it will be a six-digit Bitcoin.The question is, will it be one-handle or two-handle? No. It's a risky market. You should only invest what you can afford to lose. But the setup for 2025 is truly exceptional.”
Hogan said one of the reasons he is bullish on Bitcoin is the impact of the most recent halving event in April, when miners' rewards were cut in half.
“This is the period in Bitcoin’s history where we start to feel the effects of the halving.”
He also expects spot Bitcoin exchange-traded funds (ETFs) to “get even bigger” next year. Other bullish factors include a Fed rate cut, he said.
Hogan believes Bitcoin could start hitting new all-time highs within three months.
“Our view at Bitwise is that cryptocurrencies will end the year at all-time highs. The only question was when the rally would start. The rally may have already begun.”
He also said that investors have sufficient liquidity ready to enter the crypto market.
“There's really a lot of money lying around.”
At the time of writing, Bitcoin is trading at $67,028.
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Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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