Matt Hougan, the Chief Investment Officer (CIO) of Bitwise predicts that the price of Bitcoin (BTC) could reach $80,000 by the end of the year.
Hougan highlights three major conditions for Bitcoin to outperform this year: the results of the US Presidential elections, two rate cuts, and global stimulus.
Hougan believes a Republican win would be beneficial for the crypto industry, while a Democratic win could be a hindrance due to some politicians' anti-crypto stance.
Hougan emphasizes the importance of avoiding bearish surprises like hacks or the sudden release of locked coins to maintain a bullish market.