The founder of the Cardano (ADA) crypto project, Charles Hoskinson, is leaning bullish on Bitcoin (BTC).
In a new CNBC interview, Hoskinson says that Bitcoin is not headed towards “another crypto winter” or a downturn.
-->According to the Cardano creator, Bitcoin is primed to go up by approximately 196 from the current level over the coming months.
“I think Bitcoin will be over $250,000 by the end of this year or next year.”
Hoskinson says that Bitcoin’s rally will be driven by an improved regulatory environment, the easing of monetary policy and a fall in global trade tensions.
“What will happen is that the tariff stuff will be a dud, and then people will realize that the world is willing to negotiate, and it’s really just US versus China. And a lot of people will side with us, some people side with China. The markets will stabilize a little bit, and they will get used to the new normal. And then the Federal Reserve will lower interest rates, and then you will have a lot of fast cheap money.
And then it will pour into crypto because it will get reignited by the market structure bill (Digital Asset Market Structure and Investor Protection Act])and the Magnificent 7 [Apple, Microsoft, Amazon, Alphabet, Meta, Nvidia, and Tesla] entering and the stablecoin bill… …and then you will have a huge wave of speculative interest come probably August or September into the markets. And that will carry through for probably another six to 12 months.”
According to Hoskinson, the Federal Reserve will have room to ease the monetary policy over the coming months despite the tariffs.
“It’s not intrinsically clear how inflationary the tariffs will be. There was an MIT (Massachusetts Institute of Technology) report that came out, I think it was from the first Trump administration, where they looked at the 2018 tariffs. And even though there was a 10, 25, depending on the nature of the tariff the real inflation was only about 0.7.”
Bitcoin is trading at $84,540 at time of writing.
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