As usual, there are various forecasts circulating regarding the price of Bitcoin, but these days there is one that is quite surprising, both for its origin and its magnitude.
In fact, the crypto markets are not going through a good time at all, so much so that the very positive forecasts regarding the rest of the year are now few.
However, the price of Bitcoin is actually holding up very well, so much so that it may not have yet compromised its medium/long-term trend.
The current forecasts on the price of Bitcoin (BTC)
One of the BTC price forecasts that is sparking the most discussion is the one coming from the founder of the crypto project Cardano, Charles Hoskinson, as well as the co-founder of Ethereum.
Hoskinson recently spoke on CNBC’s podcast “Beyond The Valley,” during which he stated that in his opinion Bitcoin could reach $250,000 as early as this year.
The founder of Cardano is well known in the crypto field for his statements that are sometimes unconventional, and even this time, although he hasn’t said anything truly absurd, he goes against the trend.
He stated that there are several factors that could lead to a change in the coming months, including the growing adoption of cryptocurrencies and new regulations.
In particular, he stated that he believes the so-called Magnificent 7, namely Apple, Microsoft, Alphabet (formerly Google), Amazon, Nvidia, Meta (formerly Facebook), and Tesla, will start using stablecoins once dedicated regulations are approved in the USA.
The Interview
During l’intervista Hoskinson ha detto anche molte altre cose.
First of all, he defined the issue of tariffs “a fiasco”, because he says that people will realize that the world actually wants to trade, and that it is actually just a matter between the United States and China.
For this reason, it predicts that sooner or later the markets will stabilize a bit and will get used to the new normal. It predicts that the Fed will lower interest rates, and that a lot of money will flow into the crypto markets.
However, he argues that the geopolitical situation is shifting from a rules-based international order to a conflict between major powers.
The stablecoin
A very interesting part of his interview is the one that concerns stablecoin.
It says that the USA will adopt new specific regulations for stablecoins, and that the Digital Asset Market Structure and Investor Protection Act will probably also be approved, which will help the crypto market.
And indeed the new law on stablecoins could also lead the Magnifiche 7 to adopt these assets, to pay workers in different countries or to facilitate small transactions on their platforms.
All this, according to Hoskinson, will reignite the bull market of cryptocurrencies, even if not immediately.
He believes it could remain substantially unchanged for another three or five months, but then there will be a huge wave of speculative interest (probably in August or September) that will last for another six or twelve months.
The current situation
To understand this scenario, it is necessary to take stock of the current situation.
First of all, it must be said that there are no signs of a possible trend reversal in the short term.
Indeed, the phase of difficulty seems that it may continue at least until the end of the month, and it will hardly be immediately followed by a big bull.
Therefore, the hypothesis of a three-month “halt” for the crypto markets suggested by Hoskinson is actually a fairly widespread opinion among various analysts, and should not be considered at all as an outburst from the founder of Cardano.
A subsequent recovery of the crypto markets is also a fairly shared hypothesis, although there are strong discrepancies regarding the extent of this recovery.
As of today, in fact, there are not many analysts who see Bitcoin at $250,000 by the end of the year, with many having significantly reduced their price forecasts to figures that are considerably lower, even if perhaps higher than the all-time high in January.
Another fairly widespread opinion is that in fact the tariff war is only a temporary phase, which on one hand might end up dissolving in the coming weeks, and on the other serves the USA primarily to challenge China.
The hypothesis of a Fed rate cut is now a shared opinion, so much so that the markets are betting on as many as 4 cuts by the end of the year.
Therefore, Hoskinson’s statements fit quite well into the current framework, even if perhaps his prediction is still a bit too optimistic.