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⛓️ Crypto🟢 BullishImportance 6/10
Institutions had ‘diamond hands’ during bitcoin's 50% plunge, Bitwise's Matt Hougan says
🤖AI Summary
Bitwise CIO Matt Hougan noted that institutional investors maintained their Bitcoin positions during the recent 50% price decline, demonstrating 'diamond hands' behavior. Hougan also stated that his $1 million Bitcoin price prediction is not unrealistic given current market dynamics.
Key Takeaways
- →Institutional investors held their Bitcoin positions during the recent 50% market decline rather than selling.
- →Bitwise CIO Matt Hougan describes institutional behavior as having 'diamond hands' during the downturn.
- →Hougan believes his $1 million Bitcoin price prediction is reasonable and not speculative.
- →The institutional resilience during the crash suggests stronger conviction compared to previous market cycles.
#bitcoin#institutional-investment#price-prediction#bitwise#market-analysis#diamond-hands#crypto-institutions
Read Original →via CoinDesk
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