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Bitcoin has recently dropped significantly, falling 14% in a day and 25% over a week, with a potential for a prolonged bear market. Bitwise’s Matt Hougan attributes this to factors such as adjusting to the four-year cycle, competition from other markets, a leveraged liquidation event, and concerns over quantum computing and Federal Reserve leadership. Despite the current downturn, Hougan believes in the long-term potential of crypto and advises patient investing.
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