Bitcoin and altcoins rallied after US President Donald Trump announced the suspension of tariffs against most countries.
Despite this recovery, investors remain cautious against the risk of a possible decline, and one of the most debated topics was whether the Bitcoin price would rise or not.
At this point, Cardano (ADA) founder Charles Hoskinson shared his prediction about the Bitcoin price and predicted that the price could reach $250,000 by the end of this year or next year.
Speaking to CNBC, Charles Hoskinson noted that Bitcoin will be supported by factors such as increasing crypto adoption, growing geopolitical instability, upcoming stablecoin regulations, and the potential for tech giants like Apple and Microsoft to enter the crypto space.
Hoskinson said the long-awaited US cryptocurrency legislation could attract major companies to the crypto sector, eventually paving the way for another bull run when “tariffs” become irrelevant and market stability will return.
Hoskinson said the current market decline triggered by US tariff tensions will stabilise, especially as the Fed cuts interest rates.
“The cryptocurrency market will likely remain in a stagnation phase for the next three to five months.
But after a while they will stabilize and get used to the new normal. .Then the FED will lower interest rates and then you will have a lot of fast, cheap money and that money will flow into cryptocurrencies.
There will likely be a major wave of speculative interest in the markets in August or September, and this will likely continue for another six to 12 months.
That's when Bitcoin could reach $250,000.”
*This is not investment advice.
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