The chief investment officer of crypto asset management firm Bitwise believes Bitcoin (BTC) will reach six figures sometime next year.
In a new interview on the Altcoin Daily YouTube channel with Aaron Arnold, Bitwise CIO Matt Hougan say that multiple factors seem to be lining up to make 2025 a big year for Bitcoin.
“I think this is going to be a new all-time record. I think it will definitely be six-figure Bitcoin. And the question is: is it a single handle or is it a double handle? Of course, when I say for sure, there are no guarantees. It is a risky market. You should only invest what you can lose. But the plan for 2025 is truly exceptional.”
Hougan says one reason to be bullish on Bitcoin is the effects of the most recent halving in April, when miner rewards were halved.
“This is about the period in Bitcoin’s history when you start to feel the effects of the halving.”
He also expects Bitcoin exchange-traded funds (ETFs) to “be bigger” next year. Other bullish catalysts, he said, include Fed rate cuts.
Hougan believes Bitcoin could reach new all-time highs in less than three months.
“Our vision at Bitwise is that crypto will end the year at new all-time highs. It was just a question of when the rally would start. It is possible that the rally has already started.”
He also says that investors have plenty of liquidity available that they can sink into the crypto market.
“There really is a significant amount of money on the sidelines.”
Bitcoin is trading at $67,028 at the time of writing.
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