The chief investment officer of crypto asset management firm Bitwise believes Bitcoin (BTC) will hit six figures sometime next year.
In a new interview on the Altcoin Daily YouTube channel with Aaron Arnold, Bitwise CIO Matt Hougan says that multiple factors seem to be lining up to make 2025 a big year for Bitcoin.
“I think it’s going to be a new all-time high. I think it’s going to be six-figure Bitcoin for sure. And the question is, is it a one handle or is it a two handle? When I say for sure, of course, there are no guarantees. It’s a risky market. You should only invest what you can lose. But the setup for 2025 is really exceptional.”
Hougan says one of the reasons to be bullish on Bitcoin is the effects of the most recent halving event in April, when miners rewards were cut in half.
“This is about the period in Bitcoin’s history where you start to feel the effects of the halving.”
He also expects the spot Bitcoin exchange-traded funds (ETFs) “will be bigger” next year. Other bullish catalysts, he says, include the Fed cutting rates.
Hougan believes that Bitcoin may start hitting fresh all-time highs in less than three months.
“Our view at Bitwise is that crypto will end the year at new all-time highs. It was just a question of when the rally would begin. It’s possible the rally has already begun.”
He also says that investors have plenty of liquidity at the ready that they can sink into the crypto market.
“There is a really significant amount of money on the sidelines.”
Bitcoin is trading for $67,028 at time of writing.
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