Key Facts

• Bitwise CIO Matt Hougan, a long-time bitcoin bull, predicts that the next bull run in the cryptocurrency market will be slower and less volatile as investors' crypto appetite evolves.
• During the current bear market, investors have found it easier to reach for stablecoins and tokenization, which are perceived as more tangible options amid swirling doubts.
• Hougan's comments suggest that the evolution of investors' crypto appetite has led to a shift away from more speculative investments and towards more stable assets.
• The next bull run is expected to be characterized by a more measured pace and reduced volatility, differing from previous surges in the cryptocurrency market.
• According to Hougan, the current bear market has been a period of reassessment for investors, during which they have increasingly turned to stablecoins and tokenization as alternatives to more volatile crypto assets.