Bitwise CIO Says AI and Precious Metals Helped Spark Bitcoin Downturn, And Several Catalysts Could ‘Turn Things Around’
Bitwise CIO Says AI and Precious Metals Helped Spark Bitcoin Downturn, And Several Catalysts Could ‘Turn Things Around’
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Bitwise Chief Investment Officer Matt Hougan attributes Bitcoin's nearly 50% drop from its all-time high to multiple factors, including AI and precious metals. However, he also suggests that several catalysts could lead to a market recovery, indicating a mixed outlook for the leading cryptocurrency.
Bitcoin (BTC) is now nearly 50% below its all-time high set four months ago. And according to Bitwise Chief Investment Officer Matt Hougan, there is “never a single reason why the crypto market falls,” but rather multiple factors at work. Hougan believes there are six major drivers behind the downturn. Chief among them is long-term […]