No More Bitcoin Bear Markets Ever? Fund CIO Explores New Market Reality
Matt Hougan, Chief Investment Officer at Bitwise, suggests the historical four-year Bitcoin market cycle may be ending due to significant changes in US crypto policy, particularly a recent executive order from President Trump promoting digital asset leadership. This cycle typically features three years of gains followed by a pullback, driven by broader economic patterns. The current crypto upswing, termed the “Mainstream Cycle,” began in March 2023 after Grayscale's legal victory regarding a spot Bitcoin ETF, leading to increased investor interest and inflows. Trump's executive order aims to establish a clearer regulatory framework and a potential national crypto stockpile, which could attract trillions in investments. While acknowledging the possibility of future pullbacks, Hougan believes they may be shorter and less severe due to a more diverse investor base and improved industry infrastructure. Bitcoin was trading at $105,275 at press time.
