Bitwise CEO shared his predictions about when the next Bitcoin rally will be. The crypto analyst says bear markets are the time to make money.
Bitwise CEO says bear market for Bitcoin until this date is opportunity
Potential rallies stretched into the coming years as most traders were expecting lower levels. There is a lot of uncertainty in the current bear market as the government regulates the state of the economy. But most experts still consider it a solid foundation for making money. In particular, Bitwise CEO Hunter Horsley said that while there is always a chance to profit from cryptocurrency, the bear market is “the best time to accumulate wealth.” He made this claim in an interview with Bloomberg Technology on Oct.
Despite the current correction affecting markets such as equities, Horsley pointed out that price changes for assets like Bitcoin (BTC) take a cue from a previous pattern. In an interview with Bloomberg Technology, he made the following statements:
While there are opportunities to make profits in many phases of the cryptocurrency market, bear markets are the times when wealth can be made. As a result, some are entering the market and positioning themselves during the current bear market.
Here is that date
Interestingly, the executive says that 2024 will likely be the start of a new cycle for the crypto market. According to Horsley’s statements:
With increasing momentum, we are experiencing three-year bull market followed by a year bear market followed by four-year cycles. In other words, the market has shrunk by about 60% in 2014, by about 70% in 2018, and by around 60% this year (2022). If the market continues its historical course, a new cycle is expected to begin next year.
It is important to note that current macroeconomic factors such as inflation and interest rate increases have some influence on the market correction. This line put Bitcoin’s ability to act as an inflation hedge to the test.
The crash occurred after the industry saw a surge in institutional investors whose activities slowed significantly. As you follow on Kriptokoin.com, Horseley has previously noticed an increase in institutional demand for cryptocurrencies relative to individual investors.
Crypto demand is largely shifting from individuals to institutions
Bitwise CEO previously said that there is an increasing demand for cryptocurrencies from individuals compared to institutions. Horsley’s words came as he announced the milestone in the company’s investments, exceeding $100 million. He also highlighted that several factors have emerged as catalysts in the transition from individual investors to institutions. Increased interest is encouraged, particularly by large market-participating institutions.
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