Bitwise CIO Says Bitcoin Sellers Are Almost Exhausted, Doubles Down on $200,000 Bitcoin Price Target – Here’s His Timeline

Matt Hougan, the chief investment officer (CIO) of the digital asset management firm Bitwise, is predicting that Bitcoin (BTC) will go up by more than 70% from the current level.

In a new interview on the White Crypto YouTube channel, Hougan says Bitcoin could reach a price “north of $200,000” by the end of this year.

According to the Bitwise CIO, demand for the crypto king is currently outstripping supply.

“If you look at the amount of Bitcoin on exchange, it’s at record multi-year lows. We think those sellers are almost exhausted. At the same time, we think the institutional demand from companies, governments, and [exchange-traded funds] ETFs is increasing.

So you have available supply decreasing and institutional demand increasing and rising concerns about the

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