fortunes can be made during bear market, Says Bitwise Executive
Hunter Horsley shared his opinion on the current crypto market situation and said that every moment in the crypto industry has huge numbers of opportunities.
At present almost all the leading crypto assets, including Bitcoin (BTC) are down by averagly 70%-80% over the last year of time frame, which is a clear hint that we are in a bear market phase.
On 11 October, Hunter Horsley, the chief executive officer of Bitwise, appeared in an interview with Bloomberg Technology. In the interview, he mainly talked about the good things that we can do in the current situation, to grab better benefits.
Hunter said that there are many chances in the crypto market to make money and the bear market phase is also one of them. According to him, many people are aware of this thing and they are securing their position in this space.
“While there are opportunities to make money in many moments of the crypto market, bear market moments are the moments where fortunes can be made. And so, some are positioning themselves in the current bear market and coming into the space,” Bitwise CEO said.
Further Bitwise CEO predicted that 2024 will be a new bull cycle for the crypto space, on behalf of his past crypto market bull & bear analysis.
On one hand, the crypto bear market attracted some significant inflow of institutional investors but on the other hand, this phase impacted the activities of investors badly.
The highest price of Bitcoin was $69k, which hit in 2021 because of the support of Tesla CEO Elon Musk. And also the Bitcoin price crash started after the announcement of Tesla’s CEO to suspend support for Bitcoin from the payment option.
Read also: Google Cloud will accept Bitcoin payments for selected Web3 clients
