The CEO of the Bitwise Index Fund said that although cryptocurrencies provide an opportunity to make money at any time, bearish sentiment is ideal for creating millions of dollars.
Hunter Horsley believes that the movement of prices for cryptocurrencies, including Bitcoin, follows a historical trend that everyone has seen before:
“While there are opportunities to make money in many moments in the cryptocurrency market, bearish moments are the time to raise fortunes.”
Horsley believes that the cryptocurrency will enter a new cycle in 2024:
“We have four-year cycles, there are three years of bull markets with increasing momentum, and then there is a year of bear markets. So, in 2014 the market fell by almost 60%; in 2018 by 70%; and this year has obviously fallen by about 60%. If the market continues its historical trend, we will start a new cycle next year.”
The CEO of Bitwise added that he had previously seen growing demand for cryptocurrencies from companies and a decline in interest among retail investors. The downturn in the cryptocurrency market in 2022 has affected the activity of investors, as most of them are waiting for a possible rally on the sidelines and do not intervene.
However, the current bearish trend is characterized by significant regulatory uncertainty, but opinion leaders, like Horsley, believe there is room for profit.
Recently, the founder of Real Vision, Raoul Pal, said that the macroeconomic environment is starting to look attractive for investing in cryptocurrencies.
Source: Bits
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