Next bull run will be slower, less volatile as investors' crypto appetite evolves, Bitwise CIO says

Bitwise Chief Investment Officer Matt Hougan stated this week that the next cryptocurrency bull run is expected to be slower and less volatile than previous cycles. Hougan indicated in a CoinDesk interview that during the recent bear market, investors gravitated towards more tangible digital assets like stablecoins and tokenized products due to prevailing doubts about the broader crypto market. This shift suggests an evolution in investor appetite, moving away from purely speculative assets towards those with perceived stability or underlying utility. The trend towards tokenization, which involves representing real-world assets on a blockchain, is seen as a significant factor in this evolving landscape. Hougan's perspective implies that while the overall growth of the crypto market may continue, the nature of investor participation and the types of assets favored are undergoing a fundamental change, potentially leading to a more mature and less speculative market environment.