Matt Hougan, chief investment officer of crypto fund Bitwise Asset Management, is optimistic about the digital asset market in the next few years.
He stated that he is “very bullish on the next three years.” Hougan believes that the next bull market cycle in the cryptocurrency market will be unprecedented. “This bull cycle, the four-year cycle, is going to be the biggest cycle ever in terms of user adoption, total market cap growth, and pretty much everything we care about … If you’re in the developer community, you can see what’s going on, You can feel it. From my experience in the crypto market, the level of excitement is higher than ever. That’s why (the market price) is up 50% this year. That’s why I think the end of the year will close higher . I think 2024 and 2025 will be even better.”
Hougan said that every crypto cycle is driven by technological breakthroughs, and the upcoming cycle is no exception. “These cycles happen for a reason, and there’s a major technical breakthrough that’s fueling a new bull market… The reason I’m so excited is because I know what the technical breakthrough that’s going to drive the next bull market is. It’s Bigger technological breakthrough than NFTs, DeFi, and stablecoins. I think, in terms of real-world applications, even bigger than the first appearance of Bitcoin and Ethereum. This is scalability. This is The Layer 2 era… when you can efficiently use the blockchain for free, the things you can do are so interesting and exciting. It allows you to enter mainstream use in such a major way, and I think this is what cryptocurrencies really are A three-year cycle that penetrates the mainstream.”