Trader: The Bitcoin Rise Will Last Through Summer and Beyond.

As it continues to trade below $67,000 on Monday morning, Bitcoin (BTC-USD) is making progress toward its all-time high, which it last attained in November 2021. The demand for spot bitcoin ETF offerings, which were authorized by the Securities and Exchange Commission (SEC) in January, has contributed to the cryptocurrency's comeback. In an interview with Yahoo Finance, CIO Matt Hougan of Bitwise Asset Management, whose company runs its own spot bitcoin ETF (BITB), discusses the factors driving up the value of digital assets, potential trends that could impede bitcoin's growth, and the significance of the US presidential election in 2024 for cryptocurrency regulation. "The decision to sell by long-term bitcoin investors is what could prevent the price from rising. The only way we may see a price pullback is if investors who have held bitcoin for six months, a year, two years, or three years decide to sell, as the ETF is consuming more than 100% of the net new supply, according to Hougan.