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Bitcoin, Ethereum, XRP, Dogecoin Whipsaw, But These 4 Key Factors Make It A 'Hiccup,' Not A Downturn

Benzinga ·  03:21

Bitcoin's(CRYPTO: BTC) sell-off on Friday saw prices dip below $93,000, butBitwiseCIOMatt Houganargues that the current pullback is a "hiccup" rather than a trend reversal.

Hougan sees strong underlying factors including regulatory tailwinds, institutional adoption and Bitcoin purchases by governments as structurally bullish factors for Bitcoin.

Crypto's Turbulent Friday Trading Session

The cryptocurrency market experienced a volatile session Friday, triggered by the Federal Reserve's decision to lower its anticipated rate cuts for the coming year.

Bitcoin plummeted from a high of $108,135 to below $92,805, before rebounding slightly, currently trading around $96,950, down 1.2% on the day.

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