Bitcoin bulls just got a fresh jolt of optimism. Bitwise CIO Matt Hougan has once again backed his firm’s year-end price target of $200,000 for Bitcoin, despite market nervousness and escalating U.S. trade tensions. In a blog post published April 9, Hougan argued that the same macro uncertainty rattling traditional markets could turn into rocket fuel for Bitcoin.
Bitwise Sees Weaker Dollar as Bitcoin Catalyst
Hougan pointed to the Trump administration’s push for a weaker U.S. dollar as a potential game-changer. In a recent speech, White House Council of Economic Advisers chair Steve Miran blamed the dollar’s dominance for “unsustainable trade deficits” and manufacturing decline. Hougan said this shift could benefit Bitcoin both in the short and long term.
“Dollar down equals Bitcoin up,” Hougan wrote, citing the falling U.S. Dollar Index (DXY), which is down more than 7% year-to-date. Historically, a weakening dollar has tracked closely with BTC rallies.
Global Tensions Fuel Alternative Reserve Demand
Longer term, Hougan believes that deglobalization and reserve currency uncertainty could drive demand for alternative assets like Bitcoin and gold. “When dollar stability is questioned, governments and corporations have to look elsewhere,” he said.
According to Bitwise, we’re likely heading toward a “more fractured reserve system,” where Bitcoin takes on a greater role alongside gold.
Other Experts See Upside Ahead
Hougan isn’t alone in his bullish outlook. ARK Invest CEO Cathie Wood has projected Bitcoin could hit $1.5 million by 2030 in a “base case” scenario. Standard Chartered said in a recent note it expects Bitcoin to reach $150,000 by year-end if ETFs continue gaining momentum. Bernstein analysts have also floated a $200,000 target, citing Bitcoin’s shrinking supply and growing institutional interest.
Crypto analyst Will Clemente added fuel to the fire, posting on X that “Bitcoin will be the fastest horse” in this environment of liquidity sloshing and geopolitical tension. He added that its lack of earnings or balance sheet risk makes it a pure play on macro uncertainty.
At the time of writing, Bitcoin is sitting at $81,818.62.
