Matt Hougan, the Chief Investment Officer at Bitwise, urged long-term investors to focus less on finding the bottom and more on the next bullish cycle for Bitcoin.
He compared forecasts from three research firms—Galaxy Digital, NYDIG, and Standard Chartered—and noted that they did not reach a consensus on whether the market correction has ended.
Galaxy analyzed 13 indicators that historically accompany market bottoms, but only four are currently confirmed. Analysts believe the price could drop to a range of $30,000 to $54,000, with the most likely support level identified as $40,000 to $46,000.
Source: Galaxy.NYDIG experts pointed out that current metrics are close to the lows of previous cycles, but there are no signs of definitive capitulation in the market yet. However, institutional demand may make the current pullback less severe than in the past.
Source: NYDIG.Standard Chartered analysts hold the most optimistic view, believing the bottom has already been reached at $59,000. They expect prices to rise to $100,000 by the end of the year amid an improving macroeconomic situation.
Hougan emphasized that despite the differing figures, all three reports share common themes:
- The market bottom will be reached this year;
- The price is closer to the bottom than the peak;
- The long-term bullish trend remains intact.
According to the Bitwise representative, for long-term investors, the exact entry point is not critical if the asset is expected to rise to $100,000 or higher in the future. Fundamental factors—such as rising national debt and inflation—continue to support Bitcoin's value. Risks include quantum threats and tightening regulations.
On June 10, Hougan stated that financial advisors remain interested in cryptocurrencies, but their focus has shifted from digital gold to stablecoins and tokenized assets.