The end of crypto winter is near
Despite the fact that the last few months have been rather unfavorable for the cryptocurrency market, from the point of view of one of the industry's leading experts, the end of the 'crypto rout' is not far off.
Matt Hougan, Chief Investment Officer of cryptocurrency company BitWise, is confident that the current 'crypto winter' is starting to wind down. According to him, the latest market downturn began as early as January 2022, but its completion can be expected in the near future.
Evidence of this theory is the dynamic of the gold price, which has recently been demonstrating growth and is striving to reach the $5,000 per ounce mark. Hougan believes that the recovery of the yellow precious metal is a good sign for the cryptocurrency market, as these two assets often exhibit similar behavioral patterns.
At the same time, the Bitcoin price has so far failed to breach the $80,000 resistance level, despite attempts. Nevertheless, the expert is confident that 'crypto winter' has little time left, and we will soon witness a new round of growth in the cryptocurrency market.