Bitwise: Trump's crypto order could alter Bitcoin's 4-year cycle.
Matt Hougan of Bitwise said that cryptocurrencies would not "completely overcome" a four-year cycle, but claimed that market pullbacks would be "shorter and less deep" than before.
The recent executive order on cryptocurrencies from U.S. President Donald Trump could disrupt the four-year boom and bust cycle that the crypto market has experienced over the last decade, according to Bitwise's Chief Investment Officer, Matt Hougan.
Trump's broad executive order from January 23, along with changes at the Securities and Exchange Commission (SEC), has paved the way for “the full integration of cryptocurrencies into the financial system,” allowing banks and Wall Street to “aggressively enter the sector,” Hougan stated in a note published on January 29.
He added that cryptocurrency exchange-traded funds (ETFs) are already large enough to attract billions of new investors, but he is convinced that Trump's executive order, which seeks to explore the creation of a digital asset reserve and develop a regulatory framework, “will bring trillions.”