Bitwise Chief Investment Officer, Matt Hougan, believes that the traditional four-year cycle in the Bitcoin and crypto market has come to an end. In a detailed post, Hougan explained that previous cycles followed a pattern of growth, speculation, market excesses, and then a major setback. However, he argues that the current cycle, influenced by the fallout from crypto scandals in 2022, has been reshaped by institutional adoption and regulatory changes. Hougan suggests that the change in Washington's attitude towards crypto, as shown in a U.S. executive order that prioritizes cryptocurrency, is allowing large institutions to enter the market with longer timeframes. With the launch of Bitcoin ETFs and increased institutional participation, any potential downturn in the market is expected to be shorter and shallower than in past cycles. Hougan concludes that a new era in crypto has begun and anticipates an exciting few years ahead.



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