The post Matt Hougan Says We’re Going Upwards Regardless Of Who Wins; $100,000 For BTC? appeared first on Coinpedia Fintech News
Bitwise CIO Matt Hougan has shared his insights for Bitcoin’s explosive growth in the latest interview with Yahoo Finance. He claims that regardless of a Trump win or a Harris win, the regulatory setting for bitcoin is improving, which is reflected in its price.
While in the short term, crypto might favor a Trump victory over a Harris victory, regardless, institutions are moving into the space, adoption is rising, ETF flows are happening and either way, we’re going upwards, and with Trump’s victory, it could be a bit faster in his opinion.
But will the momentum continue?
Matt Hougan believes that we are going over $100,000 on Bitcoin. He believes that regulatory clarity actually matters for ‘altcoins’ as they are more exposed to regulatory risks. He expects an altcoin rally even more than a Bitcoin rally in the event of a Trump win. However, regardless, he also acknowledged that both are moving high.
He underscored that Bitcoin has more regulatory clarity than Ethereum and other assets as the SEC and CFTC have already declared it as a commodity and it already has an ETF which is not the case with other altcoins. He suspects that a new SEC could drive institutional adoption and the “rising tide could lift all the boats.”
Catalyst For BTC Projections:
Hougan claims that this is the best single time to invest in Bitcoin from a risk-adjusted perspective. He underscored that the biggest catalyst for Bitcoin looking forward to 2025 projections is the move of institutional adoption. Notably, there were $800M flows in ETF, yesterday alone.
Will there be a pullback if Harris is elected?
Hougan believes that in the long run, it will not matter who is elected, However, if Harris is elected, there could be a shorter pullback. In that case, Hougan noted that it would be a major buying opportunity, specifically for Bitcoin. For altcoins, he noted that there is more regulatory uncertainty.
In the short term, the rally is higher for crypto on a Trump win, and certainly, we could also get regulatory certainty on altcoins. Hougan boldly claims that in either case, the direction is upward and 2025 will be even better than 2024.
