Cardano (ADA) founder and Ethereum co-founder Charles Hoskinson recently spoke to CNBC about the ongoing global trade war. Hoskinson highlighted how cryptocurrencies will benefit in the long term. When asked if we are in a crypto winter, the Cardano creator said no, and that Bitcoin (BTC) will go over $250,000 by the end of this year or next year. BTC’s price will rally by more than 200% if it hits the $250,000 target.
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Bitcoin Gains Amid Tariff Pause
BTC fell to below $75,000 on Monday, Apr. 7. The stock market also faced one of its most significant crashes in recent times on the same day. BTC has since recovered the $81,000 price point. Despite making some gains, the asset is trading in the red zone today. BTC’s price is down 0.2% in the daily charts, 3% in the weekly charts, 4.9% in the 14-day charts, and 1.4% over the previous month. Despite the dip, the original cryptocurrency has rallied by nearly 15% since April 2024.
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The recent market resurgence came after President Trump announced that he would pause tariffs on all countries except China for 90 days. The move may have boosted investor confidence in risky assets, such as Bitcoin (BTC).
Today’s dip could be due to inflation in the US falling. The development may lead to the Federal Reserve postponing its interest rate cut.
Can The Original Crypto Hit $250,000 This Year?
Bitcoin (BTC) has hit multiple all-time highs over the last year. With a pro-crypto administration in the US, there is a high probability that the crypto industry will be exposed to lenient regulatory scrutiny over the next few years. The eased environment could lead to more investments in the crypto market.
There is also a lot of talk about multiple crypto-based ETFs being approved this year. The development could lead to more institutional money entering the crypto market.
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Both instances could lead to BTC hitting a new all-time high. Whether or not the asset hits $250,000, is yet to be seen.