Bitwise CIO: The crypto market faces short-term headwinds, but there are many long-term and huge tailwinds

cryptocurrency trader and investor Scott Melker, also known as "The Wolf of All Streets," said on X platform that "for the cryptocurrency industry, there are only tailwinds (i.e. only positive factors). Although the price has not yet responded to this, being pessimistic in the long term now is likely a bad decision." Matt Hougan, Chief Investment Officer of Bitwise, commented on this, saying "I agree, but the wording is slightly different. The cryptocurrency market faces multiple short-term, negative, and non-cyclical headwinds: Mt. Gox, the U.S. government's sell-off, etc. But there are also multiple long-term, significant, and positive tailwinds: ETF inflows, victories in court, infrastructure improvements, and the Lindy effect (referring to the longer the life cycle of a technology or idea, the greater the likelihood of its continued existence in the future). These short-term, non-cyclical headwinds are suppressing prices. This is a positive for long-term investors."