CandleFocus Investment Officer of a Giant Company: “Bitcoin Will Soar Anyway After US Elections, But Altcoins…”
2024-10-30
Author: Content Editor
Bitwise Chief Investment Officer, Matt Hougan, commented on the regulatory environment for cryptocurrencies ahead of the US presidential election. He stated that Bitcoin is in a strong position due to its classification as a commodity by regulatory bodies. However, Ethereum and altcoins face a more uncertain regulatory environment. The outcome of the election could significantly shape this environment, with a Trump victory potentially leading to clearer rules for digital assets. Hougan believes that a Trump administration could create a favorable environment for institutional adoption of altcoins, leading to a broader market rally. Despite the election outcome, he expects both Bitcoin and altcoins to increase in value. Bitwise previously predicted that Bitcoin could reach $80,000 by the end of 2024.
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