From Investing.com

August 5, 2024 3:00 pm:

Bitwise Investments CIO Matt Hougan remains bullish on Bitcoin (BTC) despite recent market declines. Bitcoin dropped to $52,000 from an all-time high of $73,628, leading to a general market downturn affecting altcoins like Ethereum (ETH) and Dogecoin. Hougan compared the current market volatility to March 2020 during the COVID-19 pandemic. Bitcoin previously recovered quickly from a 37% drop to $4,971 and reached $57,332 a year later. Hougan believes Bitcoin can repeat this recovery pattern amid panic selling from traders. Other experts like JAN3’s Samson Mow and MicroStrategy’s Michael Saylor also predict bullish outcomes for Bitcoin, with Mow forecasting a $1 million price within the next year and Saylor urging the crypto community to “believe in Bitcoin.”

Read more at Investing.com: Bitwise CIO Predicts Long-Term Uptick for Bitcoin Amid Sell-offs By U.Today