Bitwise Investment Director Matt Hougan believes that the era of unrestrained growth of all Altkoi without distinction is coming to an end. In the next cycle, the market will move differently: capital will no longer automatically flow from Bitcoin to the air, then to DeFi, and then to membranes and NFTs. According to the expert, investors will now assess the fundamental characteristics of projects more carefully, giving preference to those with a real user base or support from large players.

Hougan emphasized that the old model, in which almost all of the Altkoy showed explosive growth at once, is gone. "This game is over. We will see an unconventional season for Altcoins that rewards assets with real popularity and use," he said. According to him, the market is becoming more mature and differentiated, and speculative tokens without real value will no longer automatically rise in the general wave.

Speaking of Bitcoin, Hougan expressed confidence that the first cryptocoin had already reached local bottom at around $60,000 and was gradually recovering.