Bitwise: Bitcoin Will Reach $200K
Bitwise, an institutional crypto investment firm, is reaffirming its bold Bitcoin price prediction for this year, despite rising global trade tensions.
In a blog post on April 9, Matt Hougan, Bitwise’s Chief Investment Officer, reiterated their forecast that Bitcoin could reach $200,000 by year-end.
Hougan suggested that the impact of US President Donald Trump’s global tariff strategies might benefit Bitcoin and cryptocurrencies, noting the administration’s desire for a weaker dollar, even if it challenges its status as the world’s reserve currency.
In support of this view, Hougan referenced an April 7 speech by Steve Miran, chairman of the White House Council of Economic Advisers. Miran criticized the dollar’s reserve status for causing “persistent currency distortions” and “unsustainable trade deficits” that have negatively impacted US manufacturing.
