Bitwise CIO: Market Will Remain in the Doldrums to Digest the Impact of Events Such as the Midterm Elections and the Binance Hack

Odaily: Bitwise Chief Investment Officer Matt Hougan posted on X stating that the crypto market right now feels a lot like mid-2018. At that time, the entire industry was mired in fatigue, and many people began to give up. Given the long-term impact of factors such as the U.S. elections, the Binance incident, and tightening monetary policy, the market may continue to languish for some time.

At some point in the future, an excellent buying opportunity will definitely emerge, but it is very difficult to judge exactly when it will arrive. What broke the market's malaise in 2018 was an innovative breakthrough — DeFi — and this time it may be a similar situation. The most frustrating thing about innovative breakthroughs is that they simply cannot be predicted in advance. If you could foresee its arrival ahead of time, you would probably have already founded a multi-billion-dollar company and gotten ahead of the curve.