Bitwise’s chief investment officer Matt Hougan announced that the upcoming cryptocurrency bull cycle will likely unfold at a slower pace and exhibit reduced volatility compared to previous cycles.
Shift in Investor Focus
Hougan explained that Wall Street investors are reallocating capital from pure crypto speculation toward broader technology themes such as artificial intelligence. This diversification, he argued, should temper price swings across the blockchain sector and produce a more measured market trajectory. The trend reflects a growing appetite among institutional investors for assets that combine innovation with tangible utility.
Continued Confidence in Bitcoin and Digital Assets
Despite the broader shift, Hougan observed that registered investment advisors and U.S. institutional investors still maintain historic levels of exposure to Bitcoin and other digital assets. He reaffirmed his long‑term bullish outlook, projecting that Bitcoin’s price could breach the $1 million mark within the next decade. At the same time, investors are gravitating toward tokens that offer concrete use cases, such as stablecoins and tokenized real‑world assets