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Matt Hougan, chief investment officer at Bitwise Asset Management, is particularly optimistic about the future of bitcoin. According to him, the famous cryptocurrency could not only exceed $30,000 in the short term, but also reach new highs by next year.
Matt Hougan, the crypto oracle and his predictions
These days, everyone seems to be discovering their talents as a soothsayer when it comes to prophecy.
Here is a good example: Matt Hougan gives us his prediction on the cryptocurrency market. He talks about last year’s scandals involving FTX and LUNA, which allegedly led to rampant growth.
However, our dear crypto oracle believes that the market has now been purged of shedding its excesses and excessive leverage. So grab your crystal balls and place your bets!
The Emerging Cryptosphere and the Challenges of Regulation
Well, bitcoin seems to have taken its toll this year. In fact, the cryptocurrency has increased 77% since the beginning of the yearto be the best performing asset class in the world.
Matt Hougan, still convinced that bitcoin will fly soon over $30,000 and you’ll reach uncharted heights. Maybe not this year, but it sure promises to take off in 2024. Fasten your seat belts, it’s going to take off!
Meanwhile, Matt Hougan doesn’t swear when criticizing US SEC Chairman Gary Gensler. The latter seems to have found a DeLorean and applies rules of regulation straight out of the 1930s to 21st century technologies.
According to our dear Matt, somewhat lighter and more appropriate regulations are needed for the cryptocurrency sector to be able to take full advantage of the wonders offered by these latest innovations. Come on, Gary, Time to update your control software!
Matt Hougan’s prediction for bitcoin shows some optimism about the evolution of the cryptocurrency market.
He believes the current recovery is the result of a healthier market and increased interest in digital assets. However, it also emphasizes the importance of updating existing regulations to adapt them to the technological capabilities of the 21st century.
If these adjustments are made, bitcoin and other cryptocurrencies could continue their momentum and surpass the most enthusiastic prognoses. Now, all that remains is to see if regulators will be able to seize this opportunity to support the development of this successful sector. This could resolve the opinions of the experts, who are still different at the moment regarding price forecasts. Let’s cross our fingers and get the confetti ready!
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Interested in bitcoin since 2017, Evariste has continuously researched the subject. If his first interest was in trading, he is now actively trying to understand all the developments aimed at cryptocurrencies. As a writer, he strives to consistently deliver quality work that reflects the state of the industry as a whole.
The views and opinions expressed in this article are the sole responsibility of the author, and should not be considered investment advice. Do your own research before making any investment decision.