Recent comments by Bitwise CIO have shown an optimistic forecast for Bitcoin based on changes in market dynamics.
Declining Supply and Rising Demand
In a recent interview, Bitwise analyst Greg Hougan noted that the amount of Bitcoin held on exchanges has reached a low not seen in years. This indicates a significant reduction in selling pressure. Meanwhile, inflows from ETFs, corporate investments, and even government entities are accelerating, adding fuel to the upward trend.
Future Price Prospects for Bitcoin
Hougan pointed out that the current imbalance — shrinking supply alongside growing demand — is occurring amid eroding confidence in fiat currencies. He believes this mix could trigger significant price increases for Bitcoin heading into late 2025. He also mentioned that if Bitcoin continues its historical growth, its market cap may eventually reach that of gold.
Long-Term Outlook and Influencing Factors
Hougan considers that a long-term target for Bitcoin may be around $1.2 million per unit if current trends continue. He also emphasizes potential influences such as regulations and macroeconomic conditions that may affect the future market.
Based on current trends in supply and demand, analysts see Bitcoin as a reliable store of value, which may lead to its broader adoption as an institutional asset.
