Bitwise's chief investment officer, Matt Hougan, reaffirmed the firm’s prediction that Bitcoin could reach $200,000 by the end of the year, despite increasing global trade tensions. He attributed this outlook partly to the weakened US dollar, noting that a falling US Dollar Index tends to correlate with Bitcoin's strength. Hougan pointed to comments from Steve Miran, chairman of the White House Council of Economic Advisers, who criticized the dollar's reserve status, suggesting it causes economic distortions and unsustainable trade deficits. He argued that as the stability of the dollar is questioned, alternative reserve assets like Bitcoin and gold may gain prominence. Hougan expects this shift towards a more fractured reserve currency system to benefit Bitcoin in both the short and long term. Meanwhile, Bitcoin's recent performance reflects this trend, with a 7.5% increase within the past 24 hours, despite a correction from its previous all-time high. Crypto analyst Will Clemente echoed these sentiments, indicating that economic uncertainty could favor Bitcoin over other assets.

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