Crypto Rally Incoming in October, Says Bitwise Investment Officer
CryptoNewsTerminal Staff10 Sep, 2024
Crypto Rally Incoming in October, Says Bitwise Investment Officer
The crypto markets are expected to rally in October as the uncertainty surrounding the Federal Reserve's tapering and the potential Bitcoin (BTC) and Ether (ETH) spot exchange-traded funds (ETFs) are resolved, according to Matt Hougan, Chief Investment Officer (CIO) at Bitwise. "Markets hate uncertainty, and until there is more clarity on policy, the market is likely to struggle. I think in Q4 when this macro uncertainty is lifted, we should see a resumption of the crypto bull market rally," he said. The crypto market has been in a consolidation phase for the past few months as investors await more clarity on the regulatory landscape and the broader macroeconomic environment. However, with the Fed expected to announce its tapering plans in September and the SEC expected to make a decision on a Bitcoin ETF soon, the market is likely to see some relief in October. "We've been in a holding pattern for the past few months, but I think we're getting close to a breakout," Hougan said. "Once we get some clarity on these key issues, I think we're going to see a lot of pent-up demand come into the market."
