A multibillion-dollar crypto asset manager cites several reasons for the bitcoin plunge, but he’s listing “the four-year cycle” as the No. 1 downward catalyst.

According to Matt Hougan, chief investment officer at Bitwise Asset Management, it’s a phenomenon that’s happened three other times in the crypto market.

“People are looking for one thing to blame for the current retracement in bitcoin. But there is not any one thing to blame,” he told “ETF Edge” on Monday.

Hougan contends investors have been favoring other hot investments including gold and artificial intelligence stocks over cryptocurrencies, too.

“There is some quantum risk. There is fear of [Fed nominee] Kevin Warsh,” he said. “In bear markets, all these things are…