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$1.3 Billion Digital Asset Management Firm Says Crypto Market Set for Largest Ever Bull Cycle

According to Matt Hougan, Chief Investment Officer of Bitwise Asset Management, who recently stated his confidence for digital asset markets, saying he is “particularly positive on the next three years,” crypto markets are poised for extraordinary expansion over the coming years.

Hougan stated that the forthcoming cryptocurrency market bull cycle would be the greatest one ever in terms of user acceptance, aggregate market cap gain, and other crucial criteria during a recent interview on The Wolf of All Streets YouTube channel. Hougan is certain that regulation will eventually benefit the market, despite any potential hiccups along the way.

According to Hougan, a significant scalability-related technology advance will be the catalyst for the future cycle. This innovation, known as the layer-2 epoch, makes it feasible for crypto to enter the mainstream in a way that was before impractical.

Crypto will finally be able to significantly enter the mainstream as transaction costs on Ethereum and other blockchains are expected to drop significantly. Hougan thinks there is more anticipation than ever for this development, which will fuel the next bull market cycle in the cryptocurrency markets by enabling them to “really permeate the mainstream.”

Scalability will be even more crucial, with real-world applications that go beyond even the early stages of Bitcoin and Ethereum, while non-fungible tokens (NFTs), decentralized finance (DeFi), and stablecoins have all been key advancements in the area.

Hunter Horsley, the co-founder and CEO of Bitwise Asset Management, commented on the state of the cryptocurrency market late last year and stated he anticipated a bull cycle in cryptocurrencies to begin this year, as CryptoGlobe reported.

Notably, the most recent Digital Assets Management Review report from CryptoCompare shows that cryptocurrency investment products have kept growing in the first quarter of 2023, with total assets under management (AUM) reaching a record high of $28.3 billion in February, up 5.25% from the month before, at a time when digital assets continue to outperform traditional investments.

 

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.