Matt Hougan Predicts an Upward Trend Regardless of the Winner Is 100000 on the Horizon for BTC
In a recent interview with Yahoo Finance, Bitwise CIO Matt Hougan shared his perspectives on the remarkable surge of Bitcoin. He asserted that irrespective of whether Donald Trump or Kamala Harris emerges victorious in the upcoming elections, the regulatory environment surrounding Bitcoin is becoming more favorable, a trend that is clearly reflected in its price movements.
While Hougan suggested that a Trump victory might provide a more advantageous short-term scenario for cryptocurrencies compared to a Harris win, he emphasized that institutional interest is steadily increasing. The influx of investments into exchange-traded funds (ETFs) signifies that the market is on an upward trajectory, and he believes that a Trump win could potentially accelerate this momentum.
But the pressing question remains: will this upward trend persist?
Hougan is confident that Bitcoin is poised to surpass the $100,000 mark. He pointed out that regulatory clarity is crucial for alternative cryptocurrencies (altcoins), as they face higher regulatory risks. He anticipates a significant rally in altcoins, possibly even more pronounced than Bitcoin’s, if Trump secures the presidency. Nevertheless, he acknowledged that both Bitcoin and altcoins are likely to experience rising prices.
He highlighted that Bitcoin enjoys greater regulatory clarity compared to Ethereum and other cryptocurrencies since the SEC and CFTC have classified it as a commodity. Furthermore, Bitcoin already has an established ETF, unlike many altcoins. Hougan speculated that a new SEC leadership could further boost institutional adoption, suggesting that “a rising tide could lift all boats.”
**Catalyst for Bitcoin Projections:**
According to Hougan, this is an exceptionally favorable time to invest in Bitcoin from a risk-adjusted standpoint. He identified institutional adoption as the primary catalyst for Bitcoin’s growth in the lead-up to 2025. Remarkably, there were $800 million in ETF inflows reported just yesterday.
What if Harris wins the election?
While Hougan believes that the long-term trajectory will remain unaffected by the election outcome, he suggested that a Harris victory could trigger a brief pullback. However, he indicated that such a pullback would represent a prime buying opportunity, particularly for Bitcoin. For altcoins, the landscape remains clouded with regulatory uncertainties.
In the short term, Hougan posits that a Trump win would likely lead to a stronger rally for cryptocurrencies, though he remains hopeful about achieving regulatory clarity for altcoins. He confidently asserts that regardless of the election results, the overall direction is upward, with 2025 poised to be even more promising than 2024.
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