White House Executive Order on Crypto Could Trigger Massive Rally

It’s been just revealed that there is a massive factor that could set the stage for a huge crypto rally. Check out the latest reports here.

Bitwise CIO Matt Hougan has just predicted a bullish forecast for crypto assets after US President Joe Biden signed an executive order that calls for the examination of the potential risks and benefits of blockchain technology.

During a new interview on CNBC Crypto World, Hougan explained the fact that the executive order marks the beginning of a new bull market phase in the crypto market.

“The crypto market needs better and clearer regulation if it’s going to go truly mainstream…”

He also said the following:

“What we got here was sort of a shotgun to start telling all regulators to push that forward in a way that protects investors but doesn’t throw the baby out with the bathwater, that keeps the economic development here in the US. I think it’s pretty close to the outcome we are all hoping for.”

Hougan believes that the order could trigger a longer rally for cryptos as it addresses the lack of regulatory clarity that limits investments in the crypto space.

“We haven’t gone from zero to 100 on regulatory clarity with this executive order, but what we have done is go from zero to one. We’ve taken the first step to establish a true regulatory regime for crypto.”

He also explained the following:

“If you believe in the underlying technology, if you believe it’s as disruptive as all crypto investors do, you want to see the regulatory safeguards exist that allow that technology to express itself, that allows it to affect not just a little part of society but all of what we do every day, of how finance works, of how the web works.”