#ChristmasMarketAnalysis
Bitcoin and Ethereum’s recent price dip has been described as a prime buying opportunity by Bitwise CIO Matt Hougan. According to him, Bitcoin’s 10% correction, bringing its price down to $96,000, is not a cause for concern but rather a part of a longer-term bull market. He emphasized that institutional interest, along with support from firms like BlackRock, has significantly strengthened Bitcoin's position.
Hougan noted that unlike in previous cycles, fears of crypto’s demise no longer dominate the narrative during market pullbacks. Speaking on Ethereum, he labeled its 12% price decline as “more of a buying opportunity.” He highlighted Ethereum’s growing adoption across DeFi, tokenization, and AI-powered applications, which continue to solidify its market presence.
Bitwise has maintained a year-end price target of $7,000 for Ethereum in 2025, citing strong ETF flows and its increasing market share in stablecoins. Hougan believes the current correction is temporary and presents a favorable opportunity for long-term investors.
What are your thoughts on this dip as a buying opportunity?