Institutional crypto investment firm Bitwise has doubled down on its big Bitcoin price prediction for this year despite escalating global trade tensions.
“In December, Bitwise predicted that Bitcoin would end the year at $200,000. I still think that’s in play,” Bitwise chief investment officer Matt Hougan said in an April 9 blog post.
He suggested that the fallout from US President Donald Trump’s global tariff push could be beneficial for Bitcoin (BTC) and crypto because his administration “wants a weaker dollar, even if it means ending its role as the world’s reserve currency.”
Hougan cited an April 7 speech by Steve Miran, chairman of the White House Council of Economic Advisers, which criticized the dollar’s reserve status as causing “persistent currency distortions” and “unsustainable trade deficits” that have “decimated” US manufacturing.
Hougan said a