Bitwise: Trump's encryption executive order will rewrite the four-year cycle of Bitcoin, and the big dump pullback will no longer exist?

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ETF issuer Bitwise's Chief Investment Officer Matt Hougan recently pointed out that Trump's encryption executive order may mainstream the market, potentially breaking the four-year market cycle that BTC has long followed. He predicts that BTC will surpass $200,000, and the market pullback will be shorter and shallower than in the past, emphasizing that banks and government agencies will accelerate their entry into the market.

(Bitwise CEO predicts that AI and tokenization technology will reshape the capital market in 2025?)

Will Trump's encryption executive order break market conventions?

Matt Hougan pointed out in a report to clients yesterday that the encryption executive order issued by U.S. President Trump may lead the market to break free from the previous four-year market cycle and enter a longer and more sustainable growth phase.

(Prohibit CBDC! Trump's new executive order strongly promotes blockchain, establishes stablecoin legislation, and consolidates the sovereignty of the US dollar)

If we still follow the traditional four-year cycle, then 2025 will be the golden year of the encryption market. We have previously predicted that the price of Bitcoin will double this year and exceed $200,000.

He emphasized that the current price is mainly driven by ETF fund inflows and BTC purchases by companies and governments, and this forecast may still be somewhat conservative.

However, Hougan also warned that the market may have shown signs of overheating, such as more and more companies buying BTC through debt issuance or financing, and holders cashing out BTC assets through loan mechanisms. In addition, derivatives

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