Bitwise: Extreme anxiety in the crypto market may indicate that the bottom is near

Odaily Planet Daily reports that Bitwise Chief Investment Officer Matt Hougan pointed out that investors who bought the dip during the 2018 lows saw returns of about 2000%, while those who entered at the 2022 lows gained approximately 300%. For long-term investors, the company believes that the current disconnect between prices and industry progress is a replay of these specific cycles. Matt Hougan believes that as the world becomes increasingly digital and requires non-statutory currencies, the ecosystem is maturing, exemplified by the rise of stablecoins, the development of tokenization, and the emergence of prediction markets and “AiFi.” Although current prices do not reflect these advancements, the ongoing integration of Wall Street and blockchain technology indicates that fundamentals will ultimately drive the next rally. Bitwise has identified several potential catalysts for recovery, including the possible passage of the CLARITY bill, a shift in market sentiment toward risk appetite, rising interest rate cut expectations, and technological breakthroughs at the intersection of AI and crypto. Without sudden positive shocks, Bitwise expects the market to “bottom out.” (CoinDesk)