Bitwise CIO: Bitcoin will reach over $80,000 by the end of this year

ChainCatcher news, Matt Hougan, the Chief Information Officer of the cryptocurrency asset management company Bitwise, stated that the three main factors influencing the possibility of Bitcoin "rising" to $80,000 this quarter are the results of the U.S. election, the economy, and no significant surprises in the cryptocurrency industry.

By the end of 2023, Bitwise predicts that the price of Bitcoin will double from the then-current $42,400, reaching over $80,000 by the end of this year, noting that the approval of a U.S. spot Bitcoin exchange-traded fund and Bitcoin's fourth halving event are catalysts.