Cardano (ADA) founder Charles Hoskinson previously predicted that the price of Bitcoin could reach a staggering $250,000 as early as this year. This bold prediction was made in April, when Bitcoin was trading at $77,000 after hitting an all-time high of $109,000 in January.
Hoskinson’s optimistic Bitcoin price prediction
Hoskinson’s optimism is base On his belief that international negotiations, especially those between the US and China, will be favorable to Bitcoin’s growth.
The Cardano founder suggested that the tariff relief would lead to a positive market reaction and encourage adoption, especially with the passage of the GENIUS Act, which is expected to be signed into law by President Trump in the coming months.
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But current market realities cast doubt on Hoskinson’s predictions. Since then, Bitcoin has experienced significant volatility, briefly regaining momentum and reaching $126,000 in mid-October, but has since seen the broader crypto market. Savings of over $1 trillion In total market capitalization.
This downturn is largely due to sustained selling pressure from concerned investors and large outflows from the Bitcoin exchange-traded fund (ETF) sector, where nearly $2 billion has been sold since October.
At the moment, Bitcoin is trading around $89,300, down nearly 30% from the recently achieved price. all-time high. In light of this, SwanDesk CEO Jacob King publicly rejected Hoskinson’s $250,000 price target as unrealistic.
Is Bitcoin entering a new bear market cycle?
in post King said on social media platform King elaborated on his views, suggesting the industry is in the early stages of a new bear market cycle.
He is not alone in making this assessment. Market expert Lark Davis recently noticed Based on the classic four-year Bitcoin price cycle, we can say that the cryptocurrency has officially entered bear market territory.
Davis commented that this scenario leaves two possibilities. Either the established four-year cycle no longer makes sense, or the market has actually moved into a bearish phase. Given the current macroeconomic context, he leans toward the latter interpretation.
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Moreover, other market players in the market echoed these bearish sentiments. The analyst known as Mr. Wall Street recently said: guessed Bitcoin price peaked at $126,000.
The analyst believes this could be the culmination of the cycle, predicting that the Bitcoin price will face the next major downward pressure and could fall to the $74,000 to $82,000 range. He further predicts that the stock could fall to the $54,000 to $60,000 level by the fourth quarter of 2026.
Featured image from DALL-E, chart from TradingView.com
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