Matt Hougan, Chief Investment Officer at Bitwise, predicts that Bitcoin (CRYPTO:BTC) could surge to $100,000 by the end of the year, despite its current trading price around $57,800.

He views the recent market pullback as a beneficial opportunity for long-term investors, citing several factors driving potential growth.

These include substantial inflows into spot Bitcoin exchange-traded products (ETPs), the historical impact of bitcoin halving events on price increases, and the anticipated approval of spot Ethereum (CRYPTO:ETH) ETPs by the SEC.

Hougan highlights that spot Bitcoin ETPs have already attracted $15 billion in new assets and expects further growth with broader institutional adoption.

He acknowledges short-term liquidity shocks affecting Bitcoin's current price, such as large-scale distributions and government sales, but remains optimistic that these are temporary setbacks.

Hougan advises investors to consider the current market conditions as advantageous for entering into Bitcoin investments, emphasising strong regulatory developments and ongoing institutional interest as catalysts for future price appreciation.