Matt Hougan: Bitcoin (BTC) Will Rally Past $100,000 Regardless of Election Outcome
- DDDOriginal
- 2024-10-31 03:58:09434browse
Bitwise CIO Matt Hougan has shared his insights for Bitcoin's explosive growth in the latest interview with Yahoo Finance.
Cryptocurrency prices have soared in recent months, with Bitcoin hitting new all-time highs. But what's driving this growth and what does it mean for the future of crypto?
In the latest interview with Yahoo Finance, Bitwise CIO Matt Hougan shared his insights on Bitcoin’s explosive growth and offered projections for 2025.
According to Hougan, the regulatory setting for Bitcoin is improving, which is reflected in its price. While in the short term, crypto might favor a Trump victory over a Harris victory, regardless, institutions are moving into the space, adoption is rising, ETF flows are happening and either way, we’re going upwards, and with Trump’s victory, it could be a bit faster in his opinion.
Hougan believes that we are going over $100,000 on Bitcoin. He highlighted that regulatory clarity matters more for ‘altcoins’ as they are more exposed to regulatory risks. In the event of a Trump win, he expects an altcoin rally even more than a Bitcoin rally. However, regardless, he also acknowledged that both are moving higher.
Bitcoin has more regulatory clarity than Ethereum and other assets as the SEC and CFTC have already declared it as a commodity and it already has an ETF which is not the case with other altcoins. Hougan suspects that a new SEC could drive institutional adoption and the “rising tide could lift all the boats.”
Hougan claims that this is the best single time to invest in Bitcoin from a risk-adjusted perspective. He underscored that the biggest catalyst for Bitcoin looking forward to 2025 projections is the move of institutional adoption. Notably, there were $800M flows in ETF, yesterday alone.
If Harris is elected, there could be a shorter pullback, Hougan noted. In that case, Hougan noted that it would be a major buying opportunity, specifically for Bitcoin. For altcoins, he noted that there is more regulatory uncertainty.
In the short term, the rally is higher for crypto on a Trump win, and certainly, we could also get regulatory certainty on altcoins. Hougan boldly claims that in either case, the direction is upward and 2025 will be even better than 2024.
The above is the detailed content of Matt Hougan: Bitcoin (BTC) Will Rally Past $100,000 Regardless of Election Outcome. For more information, please follow other related articles on the PHP Chinese website!