Bitwise Chief Investment Officer: Bitcoin will trade sideways between $75,000 and $100,000 in the first half of the year, with a long-term bullish outlook of $6.5 million

According to Coindesk, Bitwise Chief Investment Officer Matt Hougan stated in an interview that cryptocurrencies are in the late stages of a bear market bottom, paving a volatile yet constructive path for stronger developments in 2026.

Cryptocurrencies spent most of 2025 in a bear market, with many altcoins dropping over 60%. Bitcoin avoided larger losses, mainly due to continued buying from corporations and ETFs. He described the current situation as a "narrowing bottom," characterized by weak ETF fund flows and low retail participation.

Hougan expects Bitcoin to trade sideways between $75,000 and $100,000 in the first half of this year. He reiterated his view that Bitcoin could reach around $6.5 million per coin in the next 20 years. Hougan stated that the core assumption is not accelerated adoption, but rather the continued growth of global debt, monetary expansion, and currency devaluation.

He believes Bitcoin is an upgraded version of gold, and central banks are just beginning to understand its role. "As long as the future does not change significantly from the past 15 years, we can achieve our goal. It's just a matter of time."