Key Takeaways
- • Bitwise CEO Hunter Horsley told CNBC that the long-running cryptocurrency downturn has ended, arguing that a significant share of selling pressure is now behind the market.
- • Horsley predicted Bitcoin (BTC) could reach a new all-time high in 2027, but did not provide a specific price target.
- • He attributed the expected recovery partly to growing institutional participation and to ETFs and ETPs, which he said make crypto assets easier for traditional-market investors to access.
- • Horsley pointed to rising usage and revenue on some crypto platforms as evidence of continued growth in the sector's core activity.
Summary
Bitwise CEO Hunter Horsley argued that the prolonged downturn in the cryptocurrency market has come to an end and predicted that Bitcoin could reach a new all-time high in 2027. In an interview with CNBC, as reported by Cryptonews.net, Horsley assessed the market's current state and said many investors who wanted to sell during the decline that has continued since the end of last year have already exited. In his view, the removal of much of that selling pressure is a positive development for crypto asset prices in the coming period.
Horsley also highlighted the expanding participation of institutional investors. He said rising usage rates and revenues on some crypto platforms point to continued growth in the sector's core activities. He noted that access to the market has improved relative to earlier cycles, and he credited exchange-traded funds (ETFs) and exchange-traded products (ETPs) with making crypto exposure easier for investors in traditional financial markets. He considered this increased institutional involvement one of the key factors supporting the sector's development.
Horsley's remarks signal his expectation that a new bull market could begin. He said Bitcoin's price needs to rise steadily rather than experience a sharp decline or a significant surge, arguing that a balanced market is preferable to a volatile one. He did not provide a specific price level for the projected 2027 record, so the forecast rests on his qualitative assessment of market structure and investor participation rather than on quantified targets.
Horsley also highlighted the expanding participation of institutional investors. He said rising usage rates and revenues on some crypto platforms point to continued growth in the sector's core activities. He noted that access to the market has improved relative to earlier cycles, and he credited exchange-traded funds (ETFs) and exchange-traded products (ETPs) with making crypto exposure easier for investors in traditional financial markets. He considered this increased institutional involvement one of the key factors supporting the sector's development.
Horsley's remarks signal his expectation that a new bull market could begin. He said Bitcoin's price needs to rise steadily rather than experience a sharp decline or a significant surge, arguing that a balanced market is preferable to a volatile one. He did not provide a specific price level for the projected 2027 record, so the forecast rests on his qualitative assessment of market structure and investor participation rather than on quantified targets.
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