Bitwise CEO Sees Bitcoin's "Short-Term Dip, Long-Term Rip"

Bitwise CEO Predicts “Short-Term Dip, Long-Term Rip” for Bitcoin

Bitwise Asset Management CEO Hunter Horsley has shared his outlook on the cryptocurrency market, predicting a short-term dip followed by a long-term surge for Bitcoin. In a recent interview, Horsley discussed the current market dynamics and his expectations for the future of the leading cryptocurrency.

Horsley believes that the ongoing altcoin capitulation is not indicative of a market top. He argues that market tops typically occur in an environment where altcoins are performing well, and investors are overly optimistic. In contrast, the current market conditions show that many altcoin investors are experiencing fear and uncertainty due to the lackluster performance of their holdings.

Horsley suggests that investors should remain calm and wait for signs of strength in the altcoin market before adding to their spot positions or using dollar-cost averaging (DCA) strategies. He warns against becoming overly emotional during times like these, as it can lead to poor decision-making.

Bitcoin, on the other hand, has been trading relatively stable, with the price hovering around $100,000. Horsley notes that this stability is a positive sign, indicating that the market is in a healthy consolidation phase. He expects Bitcoin to continue trading sideways in the short term but anticipates a significant rally in the long run.

Horsley's prediction aligns with the broader market sentiment, which suggests that Bitcoin is poised for a strong rebound in the coming months. Many analysts and investors remain bullish on the leading cryptocurrency, citing factors such as increasing institutional adoption, growing demand from retail investors, and the upcoming Bitcoin halving event.

Jerome Powell Suggests Banks May Embrace Cryptocurrency Amid Regulatory Changes and Bitcoin’s Rising Interest

Federal Reserve Chair Jerome Powell has hinted that banks may be more open to serving cryptocurrency clients in the future, provided they can effectively manage the associated risks. Powell's comments come as the crypto industry faces challenges in securing reliable banking partnerships.

The repeal of the SEC's Staff Accounting Bulletin (SAB) 121 has opened the door for banks to offer cryptocurrency custody services. This change in regulation has been welcomed by the crypto community, as it paves the way for greater integration between traditional finance and digital assets.