{"id":126868,"date":"2025-04-10T06:17:54","date_gmt":"2025-04-10T06:17:54","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126868"},"modified":"2025-04-10T06:17:54","modified_gmt":"2025-04-10T06:17:54","slug":"bitwise-doubles-down-on-200k-bitcoin-price-prediction-amid-trade-tension","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126868","title":{"rendered":"Bitwise doubles down on $200K Bitcoin price prediction amid trade tension"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsInstitutional crypto investment firm Bitwise has doubled down on its big Bitcoin price prediction for this year despite escalating global trade tensions.<br \/>\n\u201cIn December, Bitwise predicted that Bitcoin would end the year at $200,000. I still think that\u2019s in play,\u201d Bitwise chief investment officer Matt Hougan said in an April 9 blog post.\u00a0<br \/>\nHe suggested that the fallout from US President Donald Trump\u2019s global tariff push could be beneficial for Bitcoin (BTC) and crypto because his administration \u201cwants a weaker dollar, even if it means ending its role as the world\u2019s reserve currency.\u201d<br \/>\nHougan cited an April 7 speech by Steve Miran, chairman of the White House Council of Economic Advisers, which criticized the dollar\u2019s reserve status as causing \u201cpersistent currency distortions\u201d and \u201cunsustainable trade deficits\u201d that have \u201cdecimated\u201d US manufacturing.<br \/>\nHougan said a weaker greenback could have both short-term and long-term implications for Bitcoin.\u00a0<br \/>\nIn the short term, dollar weakness historically correlates with Bitcoin strength, he added, citing the US Dollar Index (DXY).\u00a0<br \/>\n\u201cDollar down equals Bitcoin up,\u201d Hougan said. \u201cI expect this pattern will continue.\u201d<br \/>\nBTC prices have generally been historically high when DXY has been historically low. Source: MacroMicro\u00a0The DXY, which compares the value of the US dollar to a basket of six major currencies, has fallen more than 7% since the beginning of 2025, according to TradingView.\u00a0<br \/>\nIn the long term, Hougan said disruption to the global reserve currency system creates opportunities for alternative reserve assets, including Bitcoin and gold.\u00a0<br \/>\n\u201cGovernments and companies turn to the dollar for international trade precisely because of its stability. When that stability comes into question, they have to look elsewhere.\u201d<br \/>\nThe Bitwise executive concluded that the world will move from a single reserve currency to a \u201cmore fractured reserve system, with hard money like Bitcoin and gold playing a bigger role than it does today.\u201d<br \/>\nEarlier this week, VanEck said that China and Russia were reportedly settling some energy trades in Bitcoin as Trump\u2019s trade war ramps up.<br \/>\nOn April 9, Trump issued a 90-day pause on nearly all of his earlier announced \u201creciprocal tariffs,\u201d keeping a baseline 10% tariff on all countries besides China, which he lumped with a 125% tariff.<br \/>\nBitcoin will be the fastest horse\u00a0<br \/>\nCrypto trader and analyst Will Clemente said on X that \u201cBitcoin will be the fastest horse\u201d coming out of this drawdown.\u00a0<br \/>\nRelated: Most opportune time to buy Bitcoin? Now \u2014 Bitwise CIO Matt Hougan explains why<br \/>\n\u201cIt\u2019s a pure reflection of liquidity and no earnings, if anything, economic uncertainty\/deglobalization are positive for Bitcoin,\u201d he added.\u00a0<br \/>\nBTC is up 7.5% over the past 24 hours to $81,700. It has seen a correction of around 32% from its Jan. 20 all-time high, in line with pullbacks in previous bull market cycles.<br \/>\nMagazine: 3 reasons Ethereum could turn a corner: Kain Warwick, X Hall of Flame<a href=\"https:\/\/cointelegraph.com\/news\/bitwise-doubles-down-200000-bitcoin-prediction-trade-tensions?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsInstitutional crypto investment firm Bitwise has doubled down on its big Bitcoin price prediction for this year despite escalating global trade tensions. \u201cIn December, Bitwise predicted that Bitcoin&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126868"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126868"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126868\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126868"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}