Bitcoinâs price has been under pressure in recent weeks due to U.S. President Donald Trumpâs newly announced tariffs, but analysts remain confident in their long-term bullish outlook.
Despite today's market decline, some experts predict that BTC will rise to new highs before the end of the year.
Bitwiseâs Head of Research Ryan Rasmussen has confirmed the firmâs $200,000 year-end price target for Bitcoin, saying the recent market turbulence is merely a temporary setback.
âOnce the market recovers from this âIndependence Dayâ chaos, we will finally start to see the market pull back to the upside,â Rasmussen said. âWe like to use the analogy that good news is dry powder stored for when this volatility and uncertainty eventually subsides.â
Bitcoinâs correlation with the tech sector has strengthened in recent years, particularly as gold has reached record highs. But Rasmussen encouraged investors to take a broader view, noting that Bitcoin has outperformed gold, the S&P 500 and the Nasdaq since Nov. 5.
âWeâve had a great snowball of news over the last few months,â Rasmussen said, referring to the White Houseâs decision to create a Bitcoin reserve, regulatory changes and the increased involvement of sovereign wealth funds. âThis market would have been at $150,000 by now if it werenât for the fear of impending tariffs.â
Rasmussen also noted that some of these tariffs could be rolled back and that he expects the Fed to cut rates later this year despite the current economic uncertainties surrounding trade and immigration policy.
*This is not investment advice.