Bitwise CIO Predicts Big Bitcoin Gains By Year End

Bitcoin could finish the year on a major high note according to Matt Hougan, the Chief Investment Officer at Bitwise. He pointed out that bad news stories are no longer driving the market down. This suggests that sellers are losing their grip and buyers are stepping up with renewed confidence.

Strong exchange traded fund inflows and steady buying from long term holders are also pushing the asset forward. These steady capital inflows show that institutional and dedicated investors continue to accumulate coins despite recent price chops. When the market stops reacting to bad news, it usually means a strong foundation is building for the next leg up.

Traders should watch the upcoming ETF volume and overall macroeconomic data to see if this bullish momentum holds. If current trends persist, the path of least resistance for the leading cryptocurrency points straight up as the calendar turns toward the final stretch of the year.