Bitwise Chief Investment Officer: Many Bad Cryptocurrencies Are Trading at “Crazy Valuations”

ARE AT Bad cryptocurrencies 2024-03-09 59
Matt Hougan, the Chief Investment Officer of Bitwise, warned investors to be skeptical of overvalued cryptocurrency projects, as the crypto market is experiencing a "wealth effect." Hougan explained that the recent surge in Bitcoin's price has led investors to diversify their profits into more questionable cryptocurrency tokens, which could give them a false sense of legitimacy. Be careful out there. Many bad projects have received funding during strong bull markets, and the valuations of many projects have reached insane levels.