Matt Hougan, CEO of Bitwise asset management company, said that a new era has entered the cryptocurrency world and a long bull market has begun.

In his interview with Bloomberg, Hougan noted that cryptocurrency prices have shown incredible resilience against increasing regulatory pressures. He also stated that BlackRock's#BitcoinETF application could be an important step in new bull market conditions.

“Prices actually went up after the FTX debacle. Now #BlackRock, the world's largest asset manager, says Bitcoin is an important asset and one that institutional investors will want to own for the next five to ten years.”