Matt Hougan from Bitwise Asset Management asserts that Bitcoin’s decline below 100,000 USD does not disrupt its long-term bullish trend. The overall strength and momentum of the cryptocurrency market remain intact despite short-term volatility.
The Federal Reserve’s reduced rate cut expectations for 2024 are not significantly affecting the cryptocurrency market. Market dynamics remain robust, showcasing crypto’s internal strength despite the Fed’s influence diminishing over time.
Key drivers for cryptocurrency’s long-term growth include supportive regulations, increased institutional investments, and technological advancements within the blockchain sector. These factors continue to build a strong foundation for sustained growth.