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Bitcoin and the broader cryptocurrency market could face near-term volatility following Democrats’ takeover of Congress.

But Bitwise Chief Investment Officer Matt Hougan believes younger, crypto-friendly lawmakers will still support the industry’s long-term growth.

In his weekly memo on Nov. 11, Hougan argued that the election changed the political balance of Congress without significantly weakening support for digital assets.

“The election doesn’t matter for crypto; demographics do,” he wrote.

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Hougan…