Bitwise CIO Predicts Bitcoin Could Hit New ATH Before US Election
The post Bitwise CIO Predicts Bitcoin Could Hit New ATH Before US Election appeared on BitcoinEthereumNews.com.
Bitwise’s Chief Investment Officer (CIO) Matt Hougan has predicted that the Bitcoin price could reach a new all-time high (ATH) even before the US election. The Bitwise CIO’s prediction came as he acknowledged the impact Kamala Harris’ support could have on the market as the US presidential elections draw closer. Bitwise Predicts New Bitcoin ATH Before US Elections Matt Hougan suggested in his latest weekly memo that BTC could hit a new ATH before the US elections. In the weekly memo released last week, the Bitwise CIO implied that market participants might have to wait until after the elections before Bitcoin runs to $80,000, representing a new ATH for the flagship crypto. However, Hougan stated that after the Monday BTC rally to $67,000, he was no longer sure that market participants would have to wait that long before the price rally to that target occurred. He claimed the rally showed that many people don’t want to be left behind if and when crypto takes off. He added, There is a lot of dry powder on the sidelines. As soon as we get any whiff of clarity, I think we go higher fast. Matt Hougan indicated that Monday’s Bitcoin rally was primarily thanks to Kamala Harris declaring her support for crypto. CoinGape reported that Harris finally affirmed her support for crypto, as she promised to protect black men who invest in and own cryptocurrencies. Although this wasn’t the kind of support many in the crypto industry hoped for, the Bitwise CIO stated that it is still good news as it shows that Kamala Harris knows that crypto exists and isn’t going away. According to him, …That little sliver of good news was enough to send bitcoin up 5%. Enough to push more than $500 million into bitcoin ETFs. Enough for people…
Filed under: News - @ October 16, 2024 1:14 am