Bitwise CIO "Now Is an Entry Opportunity for Long-Term Investors"

Matt Hogan, Bitwise Chief Investment Officer (CIO), said that despite the recent sharp decline in Bitcoin (BTC), "this is rather an entry opportunity for long-term investors."

In a CNBC interview on the 21st (local time), Hogan said, "The market currently actually has two faces," adding, "Short-term investors feel significant risk, but long-term investors view this price range as a buying opportunity."

He said, "After the volatility event on the 10th of last month, uncertainty in the macroeconomy has increased, which has raised short-term selling pressure," and added, "In the short term, there is also the possibility of a correction to the low- to mid-$70,000 range."

He continued, "Institutions such as the Harvard endowment and the Abu Dhabi sovereign wealth fund maintain their assessment of an 'uptrend' in the long term, seeing regulatory clarity, institutional inflows, and dollar value dilution," emphasizing, "It is a very good entry timing for long-term investors looking beyond next year."

Hogan also mentioned the support level currently drawing attention in the market. He explained, "Many market participants view $84,000 as a potential bottom area," adding, "This overlaps with the final adjustment zone from March this year." He added, "Some investors see a possible retracement back to pre-rally price levels after Trump's election."

Regarding the recent remark by Tom Lee, Bitmine chairman, about the 'possibility of a software error,' he said, "The Binance coding issue pointed out by Tom Lee was only a minor factor in the volatility expansion on the 10th," and assessed, "The main factors explaining the current market weakness are the decline in global liquidity, risks of Digital Asset Treasury (DAT) companies, and increased risk-asset avoidance sentiment."

Finally, he reiterated, "Although this adjustment has wiped out nearly $1 trillion of the total market capitalization of virtual assets, the long-term scenario remains robust," and stressed again, "Now is a period that opens up opportunities for investors who are not shaken by short-term volatility."