Extended Crypto Cycle Ahead, Says Bitwise CIO as Bitcoin Hits $110K

As Bitcoin surges past $110,000 and the U.S. shifts toward pro-crypto regulation, industry insiders like Bitwise’s Chief Investment Officer, Matt Hougan, are predicting a bull market that is likely to be longer and more powerful than before.

In a recent post on X, Hougan urged investors to rethink their timelines. The traditional four-year boom-and-bust rhythm may be behind us. Instead, he warns, we’re entering uncharted territory – one where the bull run has room to stretch.

So, what’s driving this extended cycle? And how long could it really last?

Regulation Eases, Innovation Takes Off

Hougan believes the crypto industry is finally breaking free from the restrictions of the past few years.

“Applications and real-world use cases were artificially suppressed by the hostile regulatory environment of 2020-2024,” he said. “But the infrastructure kept improving, and is now remarkably robust.” 

Now that those barriers are falling away, technologies like stablecoins, DeFi, tokenization, and DePin are ready to grow fast. Hougan describes the moment as a “coiled spring”, suggesting that a big surge in adoption could be just around the corner.

Bitcoin Hits $110K – Could $150K Be Next?

The numbers back him up. Bitcoin’s $110,000 landmark was unthinkable last cycle, and a recovery could push it to $150,000 or beyond.

That kind of growth would mark a shift away from the short-lived rallies of the past and show that the market is maturing.

Trump’s Return Gives Crypto a Boost

The political climate in the U.S. is changing fast. Since Donald Trump’s return to the White House, crypto has seen a sharp turn in its favor. The SEC has dropped multiple cases against crypto companies, and the White House just hosted its first crypto convention.

With the government showing more support, institutional investors are stepping in. That’s a big difference from previous cycles, which were largely driven by retail traders. Hougan says this broader backing could help extend the bull run. 

“This cycle won’t fade away as it did previously,” he noted.

Hougan is confident about what’s next. In a recent interview, he predicted a “fantastic” second half of the year for crypto. With institutional demand on the rise and fewer regulatory hurdles, crypto is finding its place in mainstream finance.

Time to Rethink the Crypto Playbook

Hougan’s long-term outlook isn’t new. Back in January, he said a crypto winter in 2026 was unlikely. And with Bitcoin’s next halving not expected until 2028, the timeline for the current cycle could stretch far beyond what we’re used to.

For investors, that means adjusting to a new kind of market, one that includes big institutions, stronger government support, and a growing list of real-world use cases. The next downturn may still come, but this time, the industry may be more prepared than ever to bounce back.