Invest: "Professional investors will drive the next Bitcoin rally"
Matt Hougan, chief investment officer of asset manager Bitwise, explains why the next crypto rally will look different from previous ones and who will be among the winners.
Crypto investors have endured numerous setbacks in recent months, but there is new hope that "the ground has been reached," says Matt Hougan, chief investment officer of the crypto asset manager Bitwise in the TradeTalk Invest podcast. Hougan points out that Bitcoin, the largest and oldest digital currency, has largely moved sideways in recent weeks, even though there have been a series of bad news.
For example, crypto investor Michael Saylor sold a large amount of Bitcoin at the beginning of the week, which usually unsettles investors. However, this time the Bitcoin price did not follow and even gained a little. The shift of a new crypto law, which is usually a major driver, has also left investors cold. "If the markets stop reacting to bad news, that's a reliable signal for the ground formation," says Hougan. Listen to the latest episode with your TradeTalk-Abo.
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