Crypto Crash Is A Movie The Industry Has Seen Before: Bitwise CIO

Bitwise's Matt Hougan believes long-term crypto holders shouldn't be surprised with the weekend's price bloodbath as the same scenario took place during the pandemic in 2020. (Credit: Alesia Kozik/Pexels.com)

KEY POINTS

• Hougan noted that he, too, felt fear as the market crashed, but he also saw the opportunity
• He said the weekend downtrend is similar to the crypto market's collapse in March 2020
• He noted that even with the plunge of global financial markets, crypto included, Bitcoin's fundamentals haven't changed

The weekend's rollercoaster ride for the cryptocurrency industry rocked small holders to the core, with many selling off their digital assets. However, an industry expert said such a market crash is not new, and instead should nudge owners to buy the dip.