James Lavish, a macro investor and managing partner at the Bitcoin Opportunity Fund, has recently criticized traders selling BTC on the impact of U.S. tariffs.
Lavish stated that those selling Bitcoin due to tariffs “have no idea what you own.” His remarks came after Bitcoin experienced a drop in value following President Donald Trump’s announcement of new tariffs.
Good evening.
If you are selling Bitcoin because of ‘tariffs’, then you have no idea what you own.
Have a great night.
— James Lavish (@jameslavish) April 3, 2025
Lavish has been a Bitcoin maxi, sharing bullish posts about BTC. He previously stated that as Bitcoin adoption grows, its volatility will continue, urging investors to embrace it. He also predicted that Bitcoin could reach a price of $120,000.
Bitcoin’s Reaction to Trump’s Tariffs
Following Trump’s announcement of reciprocal tariffs that target a wide range of U.S. trading partners, Bitcoin saw a significant price drop. In particular, Bitcoin traded as high as $88K yesterday before crashing sharply to $82K as of today.
Similarly, stocks initially saw gains but faced substantial losses shortly after Trump’s announcement. Bitcoin’s response reflected a larger market concern about potential global economic impacts. However, Bitcoin pundits like Lavish find this turnaround concerning.
Analysts’ Expectation for Bitcoin Amid Tariff Concerns
A notable analyst on X, Coinvo, observed a surge in Google searches for the term “tariffs,” suggesting that the general public’s concerns over tariffs may have contributed to Bitcoin’s price fluctuations.
However, the analyst suggested that Bitcoin’s market performance could recover once retailers become less fearful of these trade barriers. Other market observers pointed to the critical price levels Bitcoin was holding despite the tariff-induced volatility.
Jelle, another analyst, highlighted that Bitcoin was poised for a higher low after Trump’s tariff announcement. He noted that if the price had been bearish, it would have likely swept past previous highs. Instead, Bitcoin held firm, and Jelle projected the price would reclaim the $84,000 mark, with a target of $90,000 in the near future.
#Bitcoin holding for a higher low after Trump announced all of those tariffs.
If we were bearish here I’d have expected price to sweep those highs, but it didn’t – expecting the higher low to hold and price to reclaim $84,000 next.
First objective: $90,000. pic.twitter.com/u5KomChlBH
— Jelle (@CryptoJelleNL) April 3, 2025
Contrasting Views on Tariffs and Bitcoin
Despite some analysts remaining optimistic, Bitcoin critics, including Peter Schiff, offered a contrasting viewpoint. Schiff argued that Bitcoin’s recent price spike was based on a false assumption regarding the tariffs’ impact.
He pointed out that while Bitcoin initially reacted positively to Trump’s tariff announcements, it later tanked alongside stock futures as more details about the tariffs were revealed. Schiff further noted that gold, in contrast, spiked to a new record high.
