Hougan: Altcoin Season 'Game Is Over', Non-Traditional Cycle Ahead

Bitwise chief investment officer Matt Hougan said that the altcoin season 'game is over' and investors are more likely to see a 'non-traditional' altcoin season in the coming cycles. Hougan stated, 'I think that game is over. I think we'll see a non-traditional altcoin season.'

This time around, Hougan believes a 'non-traditional' altcoin season will reward tokens with real-world traction and applications. He said, 'The market may re-rate some DeFi tokens which are trading at billion-dollar valuations and have huge businesses.'

Hougan also predicted that Bitcoin's price has bottomed at $60,000 for this cycle and will likely make lower highs moving forward. 'We're in the bottoming phase, maybe the local bottom is in,' he said.

In an interview with Paul Barron, Hougan agreed with Arthur Hayes' thesis that the government will have to print more money to fund its war against Iran, leading to inflation. He stated, 'It's not like we have a pocket in the Pentagon's budget for a new kinetic war each year. That is additional spending.'