Hunter Horsley, Bitwise’s CEO, expressed his thoughts on the state of the cryptocurrency business and claimed that there are several chances in the sector at all times.
We are currently in a bear market phase, as practically all the top cryptocurrencies, including Bitcoin (BTC), are down by an average of 70% to 80% over the past year.
Bitwise’s CEO, Hunter Horsley, took part in a conversation with Bloomberg Technology on October 11. In the conversation, he largely discussed the positive actions we can take right now to gain better rewards.
According to Hunter, there are numerous opportunities to profit in the cryptocurrency market, and the current bear market phase is one of them. He claims that numerous individuals are aware of this and are safeguarding their positions in this area.
While there is potential to make money on the cryptocurrency market several times, according to Bitwise’s CEO, the times when fortunes may be made are during negative markets. As a result, some are entering the market and positioning themselves during the present bad market.
According to the CEO of Bitwise’s previous bull and bear analyses of the cryptocurrency market, 2024 will signal the beginning of a new bull cycle for the industry.
A considerable amount of institutional investors entered the cryptocurrency bear market, however, this phase also had a negative impact on investor activity.
Since Elon Musk, the CEO of Tesla, Bitcoin reached a high price of $69k in 2021. Additionally, the Bitcoin price collapse began following the CEO of Tesla’s statement to remove Bitcoin assistance from its payment options.
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