Bitwise CIO Declares “Four-Year Crypto Cycle Is Dead”—Is a Steady, Record-Breaking Boom Next?

Key Points

1. Hougan claims the four-year crypto cycle, historically driven by Bitcoin halvings and market blowups, is no longer relevant due to institutional involvement and long-term strategies.

2. He cites the reduced impact of Bitcoin halvings, fewer cyclical blowups, and the rise of crypto ETFs as factors diminishing the traditional cycle.

3. Hougan highlights regulatory advancements, such as the GENIUS Act, as stabilizing the industry and encouraging institutional investment.

4. He predicts a 'sustained steady boom' for crypto, with Bitcoin potentially reaching $200,000 by the end of 2025 due to demand from sovereign wealth funds and public companies.

5. Hougan notes that governments becoming Bitcoin holders has removed a major barrier, shifting focus from survival to growth.