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  • Rizwan Ansari
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    Rizwan is an experienced Crypto journalist with almost half a decade of experience covering everything related to the growing crypto industry โ€” from price analysis to blockchain disruption. During this period, heโ€™s authored more than 3,000 news articles for Coinpedia News.

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    Bitwise CIO: Bitcoin Should Be $200K Already By now, But!

    Story Highlights
    • Bitwise CIO claims Bitcoin should already trade near $200K, suppressed by short-term uncertainties.

    • Hougan highlights strategic Bitcoin reserve, SEC retreat, and stablecoin progress as ignored catalysts.

    • Despite suppression, Bitcoin fundamentals strengthen with rising ETF inflows and institutional adoption worldwide.

    • Hougan predicts Bitcoin could surge toward $200,000 by year-end if economic pressure eases.

    Bitcoin has been struggling to break past the $112,000 mark, leaving many investors frustrated. But according to Matt Hougan, Bitwise Chief Investment Officer, the story isnโ€™t about Bitcoinโ€™s weakness, itโ€™s about powerful forces holding it back. 

    In a recent interview with CoinDesk, he boldly said, โ€œBitcoin should be at $200,000 by now. Once suppression is removed, itโ€™s a coiled spring.โ€

    Suppressed Despite Positive News

    Speaking with CoinDesk, Bitwise CIO Matt Hougan said Bitcoinโ€™s real value has been held back by short-term economic worries, even while a wave of positive news has been building in the background.

    He pointed to several major milestones: the creation of a strategic Bitcoin reserve, the SEC pulling back from high-profile lawsuits, progress on stablecoin rules, and even the White Houseโ€™s Crypto Summit. According to Hougan, these are โ€œgame-changingโ€ developments that should have already lifted Bitcoin to $150,000 or even $200,000.โ€

    โ€œInstead of recognizing these breakthroughs, markets have ignored them,โ€ he explained. โ€œThis suppression has kept Bitcoinโ€™s price far below where it should naturally be.

    Despite the current suppression, he says Bitcoinโ€™s fundamentals are stronger than ever. If economic uncertainty eases, he expects a swift breakout to new highs, and by yearโ€™s end, he sees Bitcoin charging toward the $200,000 mark.

    What makes him so confident? 

    His confidence comes from demand outpacing supply. He points to three key drivers: strong ETF inflows, more companies like MicroStrategy buying Bitcoin, and growing interest from countries. 

    Hougan expects the number of firms adding Bitcoin to triple this year, saying nothing is holding it back except short-term hesitation.

    What Next For Bitcoin

    For investors, the message is clear: Bitcoin may seem stuck now, but pressure is building. At the moment, Bitcoin trades near $110,768, slightly down, as seen in the last 24 hours.ย 

    However, technical charts point to a possible rise toward $113,500 in the short term and $120,000 in the medium term, with resistance at $117,544 and strong support at $107,255.

    If this pressure is released, the Bitwise CIO believes Bitcoin could break out like a spring snapping upward. And in his view, the rally doesnโ€™t stop at $112K, it could push much closer to $200,000 by the end of the year.

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