Bitwise Chief Investment Officer Matt Hougan is increasingly confident that the cryptocurrency market will thrive in 2026, especially since a rebound has not yet occurred by the end of 2025.
In an interview with Cointelegraph at The Bridge conference in New York City on Wednesday, Hougan stated that a rebound in the cryptocurrency market by the end of 2025 would align with the four-year cycle theory, suggesting that 2026 will mark the beginning of a bear market, similar to 2022 and 2018.
When asked to revise his prediction about whether the cryptocurrency market would prosper in 2026, Hougan said, "I am actually more confident in that statement. The biggest risk is if we have a massive surge at the end of 2025, followed by a correction."
Hougan indicated that interest in Bitcoin (BTC) depreciation trading, stablecoins, and tokenization will continue to accelerate, while he believes that the fee switch proposal put forth by Uniswap on Monday will reignite interest in decentralized finance protocols over the next year.
"I think the fundamentals are very solid," Hougan said. "I believe these early forces—institutional investment, regulatory progress, stablecoins, tokenization—are too strong to be suppressed. So I think 2026 will be a great year."
Hougan remains optimistic that Bitcoin, Ethereum (ETH), and Solana (SOL) can reach new highs in 2026, but not as high as predicted by Maelstrom Fund Chief Investment Officer Arthur Hayes and Fundstrat Managing Partner Tom Lee.
The two predicted months ago that Bitcoin and Ethereum could reach $250,000 and $15,000, respectively, by the end of the year.
Bitcoin is currently trading at $101,762, and Ethereum at $3,416, meaning they would need to rise 145% and 340%, respectively, to reach those lofty targets.
Regarding the current market correction, Hougan attributed it to "crypto-native retail investors," believing that many early investors have recently "compressed the upside" due to significant sell-offs.
Those hoping for a repeat of the 2020-2021 bull market cycle have faced a harsh reality check, Hougan said.
On the other hand, according to Hougan, "traditional retail investors" are thriving, as he pointed out the growth in inflows to spot cryptocurrency exchange-traded funds (ETFs) over the past two years.
"Traditional retail investors, like my uncle, are entering the cryptocurrency space, and this segment of retail is still active," Hougan said.
Related: As corporate treasuries continue to expand, Strategy's Bitcoin (BTC) dominance fell to 60% in October.
Original article: “Bitwise Executive Claims 2026 Will Be the True Bull Market Year for Cryptocurrency, Here’s Why”
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