Bitwise CEO Hunter Horsley has suggested that the bear marker in Bitcoin (BTC) should not be feared but embraced.
According to the chief executive, who spoke to Bloomberg, current events should be an opportunity for investors who are not exposed to BTC to get started and increase their reach in this vertical.
Horsley is convinced that this is a part of what he describes as the four-year cycles of the cryptocurrency.
The market in 2014 was down 60%, he said in the interview, but noted that the market was even worse impacted in 2018, when it went down by 70%. However, the overall market capitalization has been increasingly steadily.
In 2022, another downward trend was experienced, with the market crashing by 60%. That is all very well, because the market cap continues to climb year after year.
Following this logic, Horsley suggested, a new cycle is beginning in 2023 and it will be good for investors – new and old.
“So, the story of this year is definitely a bear market. Nevertheless, we’ve seen increased interest from our client base”, he added.
His advice finds solid reasoning in traditional finance where investors are looking to double down on their exposure to given assets when the market is down.
This reflects a strong belief that a given asset will improve and become profitable in the future, which is precisely what Horsley now suggests.
BTC has been enjoying steadfast adoption even by skeptics. Google said that it would allow cryptocurrency payments for its crypto payments.
All of this suggests that despite the shocks in the market, companies, investors, and regulators are all coming together because they realize the potential of BTC and other cryptocurrency options.
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