Bitwise CIO Matt Hougan Thinks Bitcoin Has Finally Hit a Bottom. Here's Why He's Right.
If history is any guide, the price of Bitcoin could be substantially higher by the end of the year.
Overview
With Bitcoin (CRYPTO: BTC) down more than 25% for the year, it's no surprise that investors are abandoning the crypto market in droves. They are looking for better opportunities elsewhere and are finding them in fields such as artificial intelligence (AI) and space exploration.
But it may be too soon to write off Bitcoin. According to Bitwise CIO Matt Hougan, Bitcoin is at a turning point right now and could be "substantially higher" by year-end.
Details
Admittedly, it's getting harder and harder to make the bull case for Bitcoin. As Hougan points out, there is only one primary use case for Bitcoin these days: as a store of value.
Source
Originally published at www.fool.com.