Despite the overall bearish trends, several players see the crypto market maintaining a certain dynamism. They see the price of assets titillate to new heights. Prospects of which the recent request for a Bitcoin ETF from BlackRock would be the prelude.
The crypto market engaged in a positive dynamic
The crypto market is said to have entered a sustained growth cycle. This is the opinion expressed by Matt Hougan, the boss of the digital asset management company Bitwise Asset Management.
In an interview he gave recently, the official indicated all the optimism inspired by the current state of the crypto industry. The sector is showing dynamism despite particularly deleterious conditions.
Matt Hougan seems quite impressed with the industry’s reaction to the tensions it is facing from all sides. For example, regulatory tensions in the market might have been expected to drag down the price of cryptos.
However, this one underlines the boss, shows remarkable resilience. In this context, the head of Bitwise Asset Management believes that the industry should only fare better.
In fact, the expert believes that improving crypto market conditions are already underway. This, since the introduction, with the SEC, of the request for ETF Bitcoin of BlackRock.
A bullish outlook over several years?
This reinforces a dynamic, which, according to him, was already underway since the unexpected fall of FTX. “Prices have actually been on the rise since last November, after the FTX debacle […] and I think we have entered a multi-year bull market that is only just beginning”said the entrepreneur.
For him, the crypto industry is now in what he calls “The Mainstream Era of Cryptography”. A prosperous period of 5 to 10 years during which several crypto companies will strengthen their positions on the market. This, at the point of IPO.
According to him, it would be“a very exciting time” for the industry marked by the appearance of new companies on the market. The latter should improve its performance “as bitcoin and other crypto assets continue to rise.”
Matt Hougan’s projections for the crypto market outlook are tinged with optimism. But this position is not shared by some other players in the crypto ecosystem who expect a crash.
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