Bitwise CIO: Bitcoin to Consolidate Between $75,000 and $100,000 in First Half, Long-Term Bullish Target of $6.5 Million

Odaily News Bitwise Chief Investment Officer Matt Hougan stated in an interview that he expects Bitcoin to consolidate between $75,000 and $100,000 in the first half of this year. However, a breakout is more likely later in the year as the regulatory environment becomes clearer and macro risks are digested.

Hougan reiterated his view that Bitcoin could potentially reach around $6.5 million per coin over the next 20 years. Hougan explained that the core assumption is not accelerated adoption, but rather the continued growth of global debt, money printing, and currency devaluation. Hougan views Bitcoin as an upgraded version of gold, and central banks are only just beginning to understand its role. "As long as the future doesn't change too much from the past 15 years, we can achieve the goal. It's just a matter of time." (CoinDesk)