Bitcoin Rebounds Above $82,000
After hovering below $80,000 last week, Bitcoin (BTC) has rebounded and is now trading at $82,000, reflecting a 1.2% increase in the last 24 hours. On April 2, Donald Trump announced reciprocal tariffs on multiple nations, including Madagascar, Vietnam, and China, which caused a drop in the market. He did, however, recently halt tariffs for ninety days, which eased tensions and contributed to the stabilization of the cryptocurrency market.
Charles Hoskinson’s Predictions
In a recent interview with CNBC, Charles Hoskinson projected that Bitcoin might hit $250,000 “by the end of this year or next year,” which would be a 314% increase over current values. He explained his reasoning by stating: “The tariff stuff will be a dud; people will realize that the world is willing to negotiate, and it’s really just U.S. versus China. A lot of people will side with the U.S., while some will side with China. The markets will stabilize and get used to the new normal. The Federal Reserve will lower interest rates, leading to a flood of cheap money that will pour into crypto.”
Factors Influencing Bitcoin’s Future
Hoskinson’s projection hinges on two main factors: Increased Cryptocurrency Adoption and Geopolitical Shifts & Regulatory Clarity. The growing number of users entering the crypto space, along with the adoption of stablecoins by tech giants like Apple, Google, and Microsoft, is further legitimizing the industry. Due to economic uncertainty, the geopolitical environment is also shifting from an international system based on rules to a conflict between great powers, which may encourage more investment in digital assets. Forthcoming legislative bills like the STABLE Act and the Digital Asset Market Structure Act should provide some much-needed regulatory clarity in the interim, making the cryptocurrency market more appealing to institutional investors.
How Bitcoin’s Surge Could Impact ADA
Hoskinson’s optimistic attitude towards Bitcoin can also translate to ADA and other leading cryptos like Ripple (XRP) and Ethereum (ETH). Currently, ADA is the tenth-largest cryptocurrency in terms of market capitalization, valued at $22 billion, although it has declined 15% over the last 30 days and now has a price of $0.6243. Open interest on ADA has decreased moderately by 0.65% to $633.54 million, with the number of options decreasing by a whopping 92.94% to just $6.59 K.
As a result, options open interest fell by a marginal 0.27% to $374.92 K. Although recent declines have been witnessed, Coincodex predicts that the price of Cardano can rise by 19.71% to $0.7487 by May 11, 2025. Apart from the influence of Bitcoin, ADA can continue to see gains from increasing institutional demand. Grayscale, a leading crypto investment firm, filed for an Exchange-Traded Fund (ETF) that is tied to the price of ADA on the New York Stock Exchange, which may increase confidence in the asset’s long-term development.