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Charles Hoskinson, the founder of Cardano, recently made a bold prediction on CNBC’s Beyond The Valley podcast, asserting that Bitcoin (BTC) could soar to $250,000 in the near future. Despite Bitcoin’s current price fluctuations, Hoskinson believes the entry of major tech companies like Apple and Microsoft into the cryptocurrency market will drive significant growth for Bitcoin, even as it faces market challenges.
Currently, Bitcoin is trading at $81,767, marking a 5.54% increase in the last 24 hours, though it has experienced a 2.15% drop over the past week. This recent dip follows a broader sell-off triggered by President Donald Trump’s implementation of “reciprocal tariffs,” which caused instability in global markets and led Bitcoin’s price to briefly fall below $77,000. However, Hoskinson remains confident that Bitcoin will recover, forecasting that it could surpass its previous all-time high of $109,000 and reach $250,000 within the next year.
Key Drivers for Bitcoin’s Growth
Several factors are contributing to Bitcoin’s potential for massive price growth. First, the number of crypto users continues to rise rapidly. According to Crypto.com, the global number of crypto owners grew by 13% in 2024, reaching 659 million people. This growing adoption is a clear indicator of expanding demand, which could push Bitcoin’s price higher.
Hoskinson also notes the increasing geopolitical tensions, particularly with countries like Russia and China. As traditional global business models face challenges, crypto offers a more flexible and secure alternative for international transactions, further boosting its value.
Additionally, the passage of new stablecoin legislation in the U.S., currently under consideration in Congress, could provide regulatory clarity and reignite investor interest, spurring Bitcoin’s upward trajectory.
Technical Outlook for Bitcoin
From a technical standpoint, Bitcoin is showing promising signs. Market analysts, including Philip from TradingView, emphasize Bitcoin’s long-term strength, even amid broader market struggles. With Bitcoin holding strong despite volatile conditions, many expect it to break through resistance levels and achieve new all-time highs. Some analysts predict Bitcoin could rise as high as $220,000, based on current trends.
Also Read: Cardano (ADA) at 2021 Levels: Analyst Cautions that Past ATHs Don’t Guarantee Future Gains
As Hoskinson predicts, Bitcoin’s future looks bright, with renewed investor interest likely to propel its price to new heights in the coming months.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
