Matt Hougan, Chief Investment Officer of Bitwise Asset Management, is very optimistic about digital asset markets for the foreseeable future. During his recent interview on YouTube channel The Wolf of All Streets, he predicted that the next crypto market bull cycle will be unprecedented, due to a major technological breakthrough.
Matt Hougan: Bullish For The Next Crypto Bull Market
The crypto market continues to grow in popularity. Financial organizations, such as DZ Bank, are not afraid to take a stand. Several analysts, such as Matt Hougan, believe this bodes well for a significant increase in the near future.
Matt Hougan oversees investments at Bitwise, which has a fund of over $1.3 billion. In the interview, he explained that every crypto cycle is driven by a major technology breakthrough :
“The reason I’m so excited is that I have a good idea of the tech trend that will cause the next crypto market boom. And it is more crucial than NFTs, decentralized finance and stablecoins. For practical use cases, I would even say it’s more important than the early hiccups of Bitcoin and Ethereum. This is the era of Layer 2”
According to Hougan, this development will make fees on blockchains meaningless. He predicts this will pave the way for exciting new use cases.
Cryptocurrency adoption is on track
On the digital ocean, cryptocurrency remains the new wave that is shaking up the financial industry. The challenges are many, from volatility to regulatory uncertainty to high transaction costs.
Despite this, there are signs that cryptocurrency adoption is on the right track. Matt Hougan says we are about to see widespread adoption of this new form of currency.
He discussed the obstacles that have so far prevented mass adoption of cryptocurrencies, including the high cost of transactions on Ethereum. However, he believes this should change soon with scalability, which will allow virtually free transactions.
Additionally, Hougan is optimistic about crypto regulation, saying it will only increase the legitimacy of the industry and make it more attractive to institutional investors.
Although there are still hurdles to widespread crypto adoption, Hougan like other experts remain optimistic. Ultimately, the next cryptocurrency bull market will be an exciting and challenging time for the industry and for investors.
Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of daily and weekly so you don’t miss any of the essential Tremplin.io!
