Bitwise CEO Hunter Horsley argued that the long-running downturn in the cryptocurrency market has come to an end. Horsley predicted that Bitcoin (BTC) could reach a new all-time high in 2027.
In an interview with CNBC, Horsley assessed the current state of the cryptocurrency market, noting that many investors who wanted to sell during the decline that has continued since the end of last year have left the market.
According to Horsley, the fact that a significant portion of the selling pressure is behind us can be considered a positive development for the price performance of crypto assets in the coming period.
Bitwise CEO also noted the expanding participation of institutional investors in the cryptocurrency market. Horsley stated that the increase in usage rates and revenues on some crypto platforms indicates continued growth in the sector’s core activities.
Horsley noted that access to the cryptocurrency market has improved compared to previous periods, and said that exchange-traded funds (ETFs) and exchange-traded products (ETPs) play a significant role for investors.
Horsley emphasized that the increasing popularity of these investment instruments has made it easier for investors in traditional financial markets to access crypto assets, and he considered increased institutional participation as one of the key factors for the sector’s development.
Horsley’s statements revealed his expectations that a new bull run could begin in the cryptocurrency market.
The CEO of Bitwise stated that Bitcoin could hit a new price record next year, but did not share a specific price target for this prediction to come true.
Horsley’s assessment is based on factors such as reduced selling pressure, expanded institutional participation, and improved access to investment products. However, Bitcoin’s future price movements remain dependent on market conditions.
