Bitwise Chief Investment Officer analyzes the current situation and recovery factors of the cryptocurrency market

Bitwise Chief Investment Officer Matt Hougan stated that investors who bought on dips during the 2018 trough returned about 2000%, while those who entered the trough in 2022 returned about 300%. He believes that the disconnect between current prices and industry progress may repeat a similar cycle, and points out that digital trends and demand for non fiat currencies are driving ecosystem maturity, such as stablecoins, tokenization, predictive markets, and the development of "AiFi". Bitwise believes that the integration of Wall Street and blockchain technology will drive the next round of gains, and proposes recovery triggers including the possible passage of the CLARITY Act, market sentiment shifting towards risk appetite, rising expectations of interest rate cuts, and breakthroughs in AI and cryptocurrency technology. Bitwise expects the market to 'grind to the bottom' without any positive impact.