Bitcoin price could surge to more than double its current all-time high, according to a recent prediction from Charles Hoskinson, the founder of Cardano.
Hoskinson made the bold prediction during an appearance on CNBC’s Beyond The Valley podcast. He believes that as major tech companies, such as Apple and Microsoft, enter the crypto space, Bitcoin could experience substantial growth, despite its current price fluctuations.
At present, Bitcoin (BTC) trades for $81,767, a 5.54% increase in the last 24 hours, though it has dropped by 2.15% over the past week. This dip occurred amidst a broader sell-off of risk assets, triggered by President Donald Trump’s implementation of “reciprocal tariffs.”
This move caused instability in global markets, leading Bitcoin’s price to trade below $77,000. However, the Cardano founder believes the crypto firstborn will recover, eventually reaching $250,000 this year or the next. Notably, this is more than double its current all-time high around $109,000.
Key Factors Driving Bitcoin’s Potential Growth
Hoskinson identified several factors that could push Bitcoin’s price to new heights. One significant driver is the increasing number of crypto users. According to data from Crypto.com, the number of crypto owners rose by 13% in 2024, reaching 659 million people. This growing adoption of digital assets signals expanding demand, which could fuel further price increases.
In addition, the geopolitical landscape is shifting toward greater global conflict. Hoskinson explains that with countries like Russia and China taking assertive actions in the international arena, traditional treaties and global business models are facing challenges. In such an environment, Hoskinson argues, crypto offers a viable alternative for global economic transactions, potentially boosting its value.
Another important factor highlighted by Hoskinson is the potential impact of new stablecoin legislation. The Investor Protection Act, and Digital Asset Market Structure, currently under consideration in the U.S. Congress, aims to clarify the regulatory framework for this asset class. The passing of these bills would provide much-needed legal certainty for the market and could reignite investor interest in the crypto market.
Hoskinson anticipates a period of market consolidation over the next three to five months. However, he predicts a wave of speculative interest in the crypto market by late summer or early fall. He believes that this renewed interest, combined with the legislative changes, could push Bitcoin’s price upward in the months that follow.
Bitcoin’s Technical Outlook
From a technical perspective, analysts are also optimistic about Bitcoin’s future performance. Philip, a market watcher on TradingView, points out that Bitcoin has demonstrated long-term strength, even as the stock market has struggled.
Bitcoin has held its ground, suggesting bullish momentum. Philip’s chart analysis highlights key resistance levels and signals that Bitcoin may soon break through to new all-time highs. He forecasts that Bitcoin could reach as high as $220,000, based on its current trends and historical performance.
