{"id":2903,"date":"2026-02-11T03:04:37","date_gmt":"2026-02-11T03:04:37","guid":{"rendered":"https:\/\/finzexpert.com\/blog\/bitwise-cio-cites-the-four-year-cycle-for-losses\/"},"modified":"2026-02-11T03:04:37","modified_gmt":"2026-02-11T03:04:37","slug":"bitwise-cio-cites-the-four-year-cycle-for-losses","status":"publish","type":"post","link":"https:\/\/finzexpert.com\/blog\/bitwise-cio-cites-the-four-year-cycle-for-losses\/","title":{"rendered":"Bitwise CIO cites &#8216;the four-year cycle&#8217; for losses"},"content":{"rendered":"\n<div id=\"SpecialReportArticle-ArticleBody-6\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"SpecialReportArticle-articleBody-6-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-108263596\">\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-108263596\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000403381\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" id=\"InlineVideo-0\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><span class=\"InlineVideo-videoButton\"\/><span\/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>A multibillion-dollar crypto asset manager cites several reasons for the bitcoin plunge, but he&#8217;s listing &#8220;the four-year cycle&#8221; as the No. 1 downward catalyst.<\/p>\n<p>According to Matt Hougan, chief investment officer at Bitwise Asset Management, it&#8217;s a phenomenon that&#8217;s happened three other times in the crypto market.<\/p>\n<p>&#8220;People are looking for one thing to blame for the current retracement in <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"SpecialReportArticle-QuoteInBody-1\">bitcoin<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>. But there is not any one thing to blame,&#8221; he told &#8220;ETF Edge&#8221; on Monday.<\/p>\n<p>Hougan contends investors have been favoring other hot investments including <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"SpecialReportArticle-QuoteInBody-3\">gold<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> and artificial intelligence stocks over cryptocurrencies, too.<\/p>\n<p>&#8220;There is some quantum risk. There is fear of [Fed nominee] Kevin Warsh,&#8221; he said. &#8220;In bear markets, all these things are amplified.&#8221;<\/p>\n<p>When he was on &#8220;ETF Edge&#8221; last November, bitcoin had fallen below the $90,000 mark for the first time since April. Its record high of $126,279 was hit in October.<\/p>\n<\/div>\n<h2 class=\"ArticleBody-subtitle\">Crypto ETF disruption?<\/h2>\n<div class=\"group\">\n<p>But bitcoin weakness shouldn&#8217;t ultimately disrupt the rise of exchange-traded funds specializing in crypto, according to Hougan \u2014 who thinks a &#8220;self-fulfilling prophecy&#8221; is dominating the crypto market right now.<\/p>\n<p>&#8220;There is good news underneath the surface. It&#8217;s just slow to materialize. So, I don&#8217;t think this sort of financialization of bitcoin fundamentally changes the scarcity argument,&#8221; Hougan said. &#8220;It may change some intraday movements or short-term trading dynamics, but it doesn&#8217;t change the sort of fundamental fact there are only 21 million bitcoin. All that derivative demand has to pass through eventually to the spot market.&#8221;\u00a0<\/p>\n<p>His firm, which has more than $15 billion in assets under management, is heavily involved in crypto ETFs. <\/p>\n<p>It launched the\u00a0Bitwise Solana Staking ETF,\u00a0which tracks the price of cryptocurrency <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"SpecialReportArticle-QuoteInBody-8\">solana<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>,\u00a0on Oct. 28. The fund is down about 57% since the launch. So far this year, the cryptocurrency is off more than 30%.<\/p>\n<p>Meanwhile, bitcoin tumbled below $61,000 last Thursday \u2014 its lowest level in roughly 16 months. <\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A multibillion-dollar crypto asset manager cites several reasons for the bitcoin plunge, but he&#8217;s listing &#8220;the four-year cycle&#8221; as the No. 1 downward catalyst. According to Matt Hougan, chief investment officer at Bitwise Asset Management, it&#8217;s a phenomenon that&#8217;s happened three other times in the crypto market. &#8220;People are looking for one thing to blame [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[2080,2081,2819,361,2820,476],"class_list":["post-2903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan","tag-bitwise","tag-cio","tag-cites","tag-cycle","tag-fouryear","tag-losses"],"_links":{"self":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts\/2903","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/comments?post=2903"}],"version-history":[{"count":0,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts\/2903\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/media\/2904"}],"wp:attachment":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/media?parent=2903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/categories?post=2903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/tags?post=2903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}