Bitwise's Matt Hougan has made a contrarian bet on ETH amid sustained under-performance relative to BTC. Will ETH recover strongly?
Bitwise exec was confident that ETH price will recover stronger after U.S. elections and regulatory clarity in the DeFi space.elicited market concerns earlier this week, as the ETH/BTC pair broke below 0.04 for the first time in nearly four years.
“I think people are too quick to look past Ethereum and the real-world success we’re already seeing in its ecosystem.” He added that extra regulatory clarity on DeFi space could boost the altcoin, especially after the U.S. elections. He noted, Coinbase’s Head of Institutional Research, David Duong, linked most of the current muted price to the market structure typically marked by slow market activity due to summer.
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