Bitwise's Hougan: This 'normal crypto winter' is nearing a bottom

Matt Hougan, chief investment officer at Bitwise Asset Management, says that the last six months of falling prices for Bitcoin and Ethereum represent a "normal crypto winter," the kind of downturn you see every few years, which typically lasts no longer than 11 months. He thinks the market is nearing the bottom of the cycle now, though he warns there could be more damage before any turnaround, especially with a market facing a lot of idiosyncratic events; still, he believes both crypto and global equity markets are poised for better days ahead. Hougan notes that cryptocurrency started as a "100% speculation" is evolving to where it truly becomes "as normal as gold," making it so solid that it's not really speculation at all; he says Bitcoin is roughly half way into that transition now.

Long-term technical trader Mick Heyman, founder of Heyman Investment Counseling and author of "Mellow Your Money," sees the potential for the market to suffer a "shock event" — a one- or two-day decline of 10 to 15% — and a lot of volatility for the rest of this year, but he generally expects the market to push through that decline, which could get the Standard & Poor's 500 down to the 6,000 level, and then climb back higher. Heyman is not suggesting that investors trade out of the market to wait out the downturn; instead, he suggests diversifying and rebalancing, noting that "This is not a time to bet on energy or defense ... This is not a time to bet for or against the Mag 7. ... This is a time to be sure you can handle that 10 or 15% drop."

Plus, leading personal finance journalist Andrea Coombes discusses the end of the popular Direct File program from the IRS and how that is leaving consumers scrambling for free tax-filing help this year and where they can turn for help and red flags to watch for in the process.