Matt Hougan, the CIO of crypto asset manager Bitwise, said the US election results, the economy and the lack of major surprises in the crypto industry were the three main factors affecting the likelihood of Bitcoin "rising" to $80,000 this quarter. By the end of 2023, Bitwise forecasts that the price of bitcoin will double from $42,400 at the time to more than $80,000 by the end of this year, and points to the approval of a U.S. spot bitcoin exchange-traded fund and the fourth bitcoin halving event as catalysts.