Slower and Less Volatile: Bitwise CIO Predicts Next Crypto Bull Run

Bitwise CIO Matt Hougan believes that the next bull run in the crypto market will be slower and less volatile due to investors' shifting attention towards real-world applications like tokenization and artificial intelligence. According to Hougan, Wall Street is now focusing on these areas rather than pure digital assets, which contributed to a decline in interest for Bitcoin (BTC) and other cryptocurrencies.

Despite this, Hougan remains bullish on Bitcoin's long-term prospects, predicting that it will reach $1 million within 10 years. He notes that firms advising high-net-worth individuals and institutional capital remain engaged with crypto, although their interest has shifted towards more tangible assets like stablecoins and tokenization.

The combined market value of stablecoins recently hit a record high of $322 billion, with Citi projections suggesting it could peak at $4 trillion by 2030. Hougan attributes the decline in crypto's popularity to investors seeking 'something more tangible' during bear markets, with stablecoins and tokenization being more appealing options.