Trump Tariffs Shake Bitcoin: Still, Analyst Sees Massive Rally Ahead!
The price of Bitcoin has been affected by U.S. President Donald Trump’s tariffs in recent weeks. However, some analysts are unfazed by Thursday’s market drops and still predict that the commodity will soar to new heights this year. For example, Ryan Rasmussen, head of research at Bitwise, stated on Thursday that the cryptocurrency asset manager’s $200,000 year-end price prediction for Bitcoin has not changed.
Once the market settles from this ‘Liberation Day’ chaos, we’ll finally start seeing the market pullback upwards. We like to use the analogy that (good news) gets stored as dry powder for when that volatility and uncertainty ultimately subsides.
Rasmussen
Is Bitcoin’s Next Stop $150,000? Analyst Says Only Tariffs Are a Barrier
Over the past few years, there has been a strong correlation between the tech industry and the performance of the biggest cryptocurrency by market capitalization. Gold’s record-breaking ascent has made the trend even more apparent. However, Rasmussen said it’s worthwhile to zoom out given that Bitcoin has outperformed the precious metal, S&P 500, and tech-heavy Nasdaq since November 5. He cited regulatory changes, sovereign wealth funds, and the White House’s creation of a Bitcoin reserve.
Over the past few months, we’ve had an avalanche of great news. This market really should already be at 150k if we didn’t have the looming fear of tariffs.
Rasmussen
Despite the Federal Reserve being in wait-and-see mode due to changes in trade and immigration policy, Rasmussen believes that certain tariffs will be pulled back and that interest rate cuts this year are still on track.
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