Bitwise CEO: The crypto bear market may have lasted for six months and is nearing its end.
TL;DR
Bitwise CEO states the crypto bear market may have lasted six months and is ending, driven by new market dynamics from Bitcoin ETFs and Trump's inauguration, making the market stronger than ever.
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On November 14, Bitwise CEO Hunter Horsley posted on social media, "We often talk about four-year cycles—but the reality is that this model is based on the past era of the crypto market. Since the launch of Bitcoin ETFs and Trump's inauguration, we have entered a completely new market structure: new participants, new market dynamics, and new reasons for people to buy and sell crypto assets."
I believe we have likely been in a bear market for nearly six months and are almost at the end. The current positioning in the crypto market is stronger than ever.