The leading crypto index fund manager, Bitwise CIO Matt Hougan, sees the Bitcoin halving as a chance for investors, citing historical trends of post-halving price surges, according to an interview with CNBC.
The halving, a coded adjustment every four years, reduces Bitcoin supply and is expected to boost prices. Hougan predicts a positive impact on BTC’s value over the next year due to reduced new supply.
Matt Hougan, Bitwise CIO, says, “The amount of new supply of Bitcoin coming into the market is being cut in half. We’re removing $11 billion of annual supply. I think big picture, that has to be good for price and that’s what I would expect over the next year.”
Coinpass CEO Jeff Hancock agrees, highlighting Bitcoin’s evolution into a serious asset with institutional interest. Hancock believes the current market cycle, coupled with successful Bitcoin ETF launches, signals a bright future.
Hancock said, “Bitcoin prices are already pushing all-time highs before the halving, something that has never happened before. Bitcoin’s market future has an unlimited potential in my opinion.”
Institutional demand for Bitcoin is strong and could extend to Ethereum ETFs, offering access to staking rewards and decentralized finance. Both experts foresee a bullish market for Bitcoin and potential growth in Ethereum, despite regulatory challenges.
The rise of spot Bitcoin ETFs, with over $60 billion in assets, reflects growing investor confidence in crypto. Hancock anticipates continued institutional interest, shaping crypto’s landscape beyond 2024.
Also Read: Crypto Market Underestimates Bitcoin Halving’s Impact: Bitwise
