Bitwise CIO: Crypto Market Needs to Digest Some Long-Term Factors; Major Buying Opportunities Will Emerge

November 15: Bitwise Chief Investment Officer Matt Hougan wrote that the crypto market currently shows the kind of fatigue seen in mid-2018, with many people opting to give up. It may take the market some time to digest long-term impacts such as the election, Binance-related events and tightening monetary policy. Major buying opportunities will emerge in the future, but the exact timing is hard to judge. Hougan noted that the 2018 downturn was ultimately broken by an innovation—DeFi—and expects this time may be similar, with some unpredictable innovative breakthrough being what truly turns things around.