Cryptocurrency markets took a back seat for a while, but the market is ready for another massive comeback. To this end, the CIO of Bitwise Asset Management, Matt Hougan, has shared his optimism.
He recently told the media that the upcoming bull run in the cryptocurrency market is going to be notorious and surpass all previous records.
Hougan was speaking to the journalist on the YouTube channel Wolf of Wall Street. During his interview, he exclaimed that the latest bullish streak is rising above any bullish development that took place during the last three years.
Hougan has claimed that the cryptocurrency markets are all set for an unprecedented bullish development. He claimed that the bull run could span over four years.
He further added that this cycle is likely to be the biggest bullish cycle thus far. He, however, maintained that the bull run is going to be the top incident based on participation.
He further explained that the market cap of the crypto market is likely to expand exponentially on account of the biggest-ever user traction. However, he maintained that the streak would not pan out in a straight line but rather undergo bumps and pauses.
Crypto Utility and Innovation
Hougan claimed that the next bullish lap of the crypto is going to be larger than the NFTs, stablecoin, and DeFi boom combined. He claimed that the positive appreciation of the crypto market is getting complimented on account of real utility and innovations.
Hougan shared the example of Ethereum gas improvement and projects that it will shrink to a fraction of its current value on account of EIP-4844.
He believes that the upcoming bullish run is going to be bigger than the debut of Bitcoin and Ethereum and would be spearheaded by Layer-2 solutions and dApps. He mentioned that since participation in blockchain protocols is free, there are better chances for it to achieve mainstream adoption now than ever before.