Bitwise CIO Matt Hougan Says Crypto’s Cycle Low Came in June

Bitwise Chief Investment Officer Matt Hougan said he believes crypto’s cycle low came in June, putting the market, in his view, in the early stages of a multiyear bull market. “I think we bottomed in June,” Hougan said in an interview recorded Nov. 9. He pointed to crypto’s resilience through high inflation readings, rising expectations for a Federal Reserve rate hike and the Democratic sweep of Congress. Hougan was more cautious about the near term. He said he was “a little bit pessimistic for the next few weeks,” citing uncertainty over how Democrats will approach crypto when they take control of Congress. He said the market may face a few weeks of uncertainty before what he expects to be a good end to the year.

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