Bitwise Chief Investment Officer Matt Hougan has urged long-term investors to focus less on hunting for the bottom and to look toward Bitcoin's next bull cycle.

The expert compared the forecasts of three research firms — Galaxy Digital, NYDIG, and Standard Chartered. He emphasized that the firms' representatives did not reach a unanimous conclusion on whether the market correction has ended.

Galaxy studied 13 indicators that have historically accompanied a market bottom. At present, only four of them are confirmed. Analysts believe the price could fall into the $30,000-54,000 range. They named $40,000-46,000 as the most likely support level.

NYDIG specialists noted that current metrics are close to the lows of past cycles, but there are still no signs of final capitulation in the market. At the same time, institutional demand could make the current pullback shallower than before.

Standard Chartered analysts hold the most optimistic view. In their opinion, the bottom has already been reached at the $59,000 mark. The bank expects quotes to rise to $100,000 by the end of the year amid an improving macroeconomic situation.

Hougan emphasized that despite the different figures, all three reports contain common theses:

• the market low will be reached this year;
• the price is closer to the bottom than to the peak;
• the long-term bullish trend remains intact.

According to the Bitwise representative, for long-term investors the exact entry point is not decisive if the asset eventually rises to $100,000 or higher. Fundamental factors — rising government debt and inflation — continue to support Bitcoin's value. The risks are the quantum threat and tighter regulation.

As a reminder, on June 10 Hougan stated that financial advisors are still interested in cryptocurrencies, but their focus has shifted from digital gold to stablecoins and tokenized assets.

Source: ForkLog