Bitwise CIO cites 4-year cycle for BTC drop, says ETF growth will continue

Bitwise Chief Investment Officer Matt Hougan has identified the four-year cycle as the primary cause of Bitcoin's recent price slump, CNBC reported. In an interview, Hougan stated that while people are searching for a single reason for the price decline, multiple factors are at play. He noted that assets like gold and artificial intelligence-related stocks are currently drawing more attention than cryptocurrencies. Hougan also mentioned quantum risk and concerns about Fed Chair nominee Kevin Warsh, adding that all these elements are amplified in a bear market. However, he argued that this bearishness will not ultimately stop the growth of crypto ETFs. Hougan explained that the fact of Bitcoin's total supply being limited to 21 million coins remains unchanged, and all demand from derivatives will eventually flow into the spot market.