Is this crypto winter different? Key observers reevaluate Bitcoin
The current market downswing could be driven by institutional investors exiting positions, as crypto still presents too much risk for them.
Bitcoin market observers believe that the recent price slump may actually reflect the asset’s wider adoption by institutions, which still don’t see it as a risk-off asset.
It’s been rough out there for crypto in recent months. Since October, when Bitcoin’s price reached a high of over $120,000, BTC has been gradually sliding. In recent weeks, it dropped sharply, down over 25% on the month.
Amid the sell-off, market observers have been looking for explanations. Bitwise chief investment officer Matt Hougan attributed the fall to the notorious four-year cycles that have previously defined crypto market price swings.
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