“The Whales Are Coming… BTC & ETH to New All-Time Highs at This Date” – Matt Hougan #Finance

why is bitcoin’s price rallying so hard yeah I think it’s really people coming to grips with the fact that they can’t wait until the election to allocate there’s so much pent up positive demand for #1a73e8; text-decoration: none;">Crypto and Bitcoin specifically in the market so many long-term trends pushing us forward we have the Bitcoin ETFs we have Larry Fink on TV calling it a

major asset class we have institutions moving in but people sort of had in their mind that they could wait until after the election to get in I think yesterday when commo Harris came out with some vaguely pro- text-decoration: none;">Crypto commentary in a policy position paper that was enough to make people realize they had to get in now that they couldn’t wait till the end our view a bitwise is that text-decoration: none;">Crypto will end the year at new all-time highs and it was just a question of when the rally would begin it’s possible the rally has already begun Matt hugan is a prominent personality in the #1a73e8; text-decoration: none;">Cryptocurrency industry and the chief investment officer for bitwise Asset Management the world’s largest provider of Cryptocurrency

index funds with over $1.5 billion in Assets under management as a world leading expert on ETFs and financial technology hugan has a special appreciation for

href="https://cashnews.co/crypto" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Cryptocurrency based spot ETFs and their impact on the development of the

href="https://cashnews.co/crypto" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Cryptocurrency industry in the US and globally much like other Crypto Market

participants hugan has been celebrating the approval of spot Bitcoin and ethereum ETFs and his firm bitwise Asset Management has applied to the SEC to offer a spot xrp ETF to

investors the bitwise CIO is exceedingly bullish on the overall Cryptocurrency market and believes the market is on the verge of a massive breakout that would see prices easily soar to new

all-time highs in a recent tweet on social media platform X hugan made a super bullish six-figure prediction for Bitcoin his prediction is based on sever factors he sees aligning in favor of the none;">Cryptocurrency market as we head into the US elections in November his tweet reads we’re heading to sixf Fig Bitcoin ETF flows are accelerating the election is approaching infinite deficits based on bipartisan agreement economic stimulus in China Global rate cuts the fed and the

ECB haling Supply shock is starting to bite and whales are accumulating this tweet sums up a majority of the expectations of prominent Market participants like hugan who have been calling for significant price appreciation for Bitcoin and other

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Cryptocurrencies since the beginning of the year after what has been a turbulent period for the market and the overall global economy things are finally beginning to fall into place raising expectations and Market sentiment hugan

also recently appeared for an interview on The altcoin Daily YouTube channel during The Illuminating discussion hugan explains why this is only the beginning of a much larger rally gives an update on the none;">Crypto ETFs and Shares his super bullish 2025 prediction for Bitcoin and ethereum as we bring you clips from the interview please take a little time to like this

CashNews.co subscribe to the channel and turn on post notifications for more CashNews.cos like this everything you do helps with the YouTube algorithm and immensely contributes to the Channel’s growth thanks and enjoy the CashNews.co there is a really significant amount of money on the

sidelines you know at bitwise what we do all day is speak to financial advisers and family offices and institutions about Crypto and they all had their eye on the election wondering if

href="https://cashnews.co/crypto" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Crypto will get the All Clear Markets hate nothing worse than uncertainty and I think

for many people the election represented uncertainty and so they were sitting on the sidelines waiting they realized that Crypto is not going away they realized that it’s moving into the

institutional sort of part of the world but they thought they could wait and delay I think if this rally continues if we continue to see momentum and it trips up towards 70,000 I think it becomes a self-fulfilling prophecy people realizing they have to get on the train before the election they

can’t wait for the all clear and that’s normal you often see you know Assets rallying before news and I think that’s a little bit what we might be seeing right here I mean you have it exactly right from one perspective these are the most successful ETF launches of

all time attracted billion dollars investment already turned on at Morgan Stanley which is faster than usually happens for ETFs but it’s still the case that most investors believe it or

not most large institutional investors can’t access these ETFs it’s a limited approval at Morgan Stanley the other major wirehouses like UBS and Wells Fargo haven’t even turned

on uh these ETFs in a limited sense before I came to bitwise six and a half years ago I was the CEO of etf.com so this is my neck of the the thing that

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Crypto should realize about ETFs is they are multi-year stories if you look back at the Gold ETF which one it launched was

the most successful ETF launch of all time year two had more flows than year one year three more than year two year four more than year three for eight straight years I actually think the same thing is going to happen for Bitcoin #1a73e8; text-decoration: none;">ETFs yes this was a record year the most successful ETF launch of all time maybe we’ll get 20 plus billion dollars of Assets into the none;">ETFs in year one that’s amazing I bet you year two is bigger and I bet you year three is bigger ETFs are five to 10year journey to maturity so we’re still really at the

earliest stage what is your 2025 bitcoin price Outlook oh it’s a great question I I think it’s going to be a new all-time high I think it’s going to be sixf figure Bitcoin for sure and the question is is it is it a one handle or is it a two handle I when I say for sure of course

there are no guarantees this a risky Market uh you should only invest what you can lose but the setup for 2025 is really exceptional for one this is about the period in bitcoin’s history where you start to feel the effects of the having we sort of forget that the having happened right because

there’s been so much news Bitcoin ETFs Donald Trump at the Bitcoin conference strategic Reserve talk you know Black Rock but the having is a big deal and you’ll just starting to feel

that happen we also have ETFs which again I think next year will be bigger than this year from adoption perspective and then we have the generalized four-year cycle where sort of this is the

year where the animal spirits really start going we also have governments continuing to abuse Fiat currencies stimulus and China rate Cuts that’s a pretty positive picture so I think Bitcoin you know will end the year at new all-time highs and that I suspect that they’ll it’ll

surpass that in 2025 and it’ll be you know a a strong year for the Markets what what I’ll say about ethereum is I’m I’m actually quite constructive on ethereum right

now I think it’s a contrarian bet within Crypto ethereum is like the asset that people love to hate it’s kind of the middle child of

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Crypto it’s neither the OG Bitcoin or the hot dot that is whether you want to say salana or SOI or aptose or manad or pick your new high performant blockchain people assume that ethereum is like old Tech and it’s

struggling over fee compression as Assets move onto layer twos and activity moves onto layer twos but when you step back and look at it what are the killer apps of Crypto

outside of Bitcoin they’re things like stable coins they’re things like defi they’re things like tokenization what is the leading blockchain for stable coins Defi and tokenization it’s still ethereum if you’re a large traditional Financial player looking to build on a

public blockchain what blockchain are you going to choose most likely you’re going to choose ethereum and so I think ethereum has been sort of passed over this year because it’s going through this complex teenage adjustment in its architecture and it’s been missed by The Narrative

around the excitement for salana and the excitement for Bitcoin I think it’s set up actually to be a a pretty good contrarian play in 2025 like Bitcoin which he believes could get as high as $200,000 in 2025 hugan is predicting new all-time highs for ethereum in 2025 according to the bitwise

CIO this prediction is closely tied to several key factors which include significant growth in applications built on the ethereum ecosystem positive and clear stable coin legislation in 2025 and long-term focus on the expansion of the ethereum ecosystem particularly to address concerns over High

Network fees with these factors in place hugan predicts that ethereum will easily smash its previous all-time high of 4,800 $78 and make new all-time highs in 2025 let us know your thoughts on Hogan’s predictions in the comment section Below in other news the largest banks in the US JP Morgan

Chase Wells Fargo Bank of America and City are offloading billions in bad Debt as Consumer Financial struggles continue to grow new data from their recent earnings reports reveal that these four banking Giants collectively recorded $6.9 billion in net charge off for the third

quarter of this year the primary drivers a surge in Credit card delinquencies and other soured Consumer Loans breaking down the numbers JP Morgan Chase saw its net charge offs rise to $2.1 billion in Q3 which is a sharp 40% increase from the same period last year

Wells Fargo faced even bigger percentage growth with its charge offs hitting $1.1 billion up a massive 54% from a year ago Bank of America also posted significant losses with $1.5 billion in charge offs a staggering 64% increase from Q3 2023 City wasn’t far behind reporting $2.2 billion in

net Credit losses marking a jump of over 32% these figures come at a time when Credit card Interest Rates in the US have reached unprecedented highs in August Credit card rates hit a new all-time Peak fueled by the rapid increase

in borrowing costs according to Adam kesi founder and editor-in-chief of the kesi letter Credit card rates have surged by seven percentage points over the past 2 years reaching 23.4% just a couple of months ago this steep rise in interest is creating more financial pressure for

consumers with total Us Credit card Debt now sitting at a record $1.36 trillion the highest level in history the effects of this are staggering coasy points out that us consumers are paying a combined $318 billion in annual interest payments a figure that has

doubled since 2019 when the total interest paid was closer to $160 billion on top of that serious delinquency rates for Credit cards have climbed to 7% the highest level since 2011 according to kobayasi the Credit card Debt bubble is showing signs

of popping as more consum consumers struggle to keep up with mounting interest and Debt payments while this raises some concerns about the health of the banking sector it is positive for the text-decoration: none;">Markets as it means further rate cuts and possibly full-on Federal Reserve intervention by 2025 how soon do you think this full-scale intervention will begin and how will it impact text-decoration: none;">Crypto asset prices please drop your replies as well as your thoughts on Hogan’s interview in the comment section below also ensure you like this CashNews.co subscribe to the channel and turn on post notifications for more CashNews.cos like this thanks for

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