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The cryptocurrency market’s recent crash represents a once-in-a-lifetime opportunity, according to Bitwise investment chief Matt Hougan.

“I think it’s a generational opportunity for long-term investors, whether you’re looking at Bitcoin, Ethereum or Solana,” Hougan told CNBC on Tuesday.

Over the past month, the cryptocurrency market has wiped out $1 trillion in value, as Bitcoin has tanked as much as 29% from its price record of $126,000 reached last month to briefly trade below $90,000 for the first time since April.

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Hougan attributed the market volatility to broader concerns about the economy,…