The chief executive officer of the world’s largest crypto index fund manager says the firm’s clients are positioning themselves for the next Bitcoin (BTC) bull cycle.
In a new interview with Bloomberg Technology, Bitwise CEO Hunter Horsley says that 2022 has certainly been a bear market for crypto, but that he sees an increased amount of interest from clients.
“Crypto is down about 60%, or thereabouts – it’s changing every day. So the story of this year is definitely a bear market. Nevertheless, we’ve seen increased interest from our client base. And I think the backdrop for many crypto investors is that there have historically been four-year cycles, and while there are opportunities to make money in many crypto market moments, bear markets are the moments when fortunes can be made. So there are some that are positioning themselves in the current bear market and are coming into the space now.”
Horsley reiterates his point about the historical market patterns, explaining why he expects a new bull market to begin next year.
“The historical pattern of crypto with the data we have – 12 years of a journey – is that we get four-year cycles. We get three years of bull markets with growing momentum and then we get a bear market year. So in 2014, the market down almost 60%. 2018 – market down north of 70%. And this year, obviously, 2022, the market down around 60%. The expectation, if the market continues its historical trend, would be that we begin a new cycle next year.”
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Source: https://dailyhodl.com/2022/10/11/bitwise-ceo-says-fortunes-to-be-made-as-bitcoin-gears-up-for-new-bull-market-cycle/