Charles Hoskinson predicts Bitcoin may reach $250,000 by the end of 2024 due to rising speculative interest and regulatory developments. He cites a 13% increase in global crypto users and potential tech company adoption of stablecoins as key factors. Despite recent market dips, he anticipates a market surge by late summer, highlighting the resilience of crypto amid geopolitical uncertainties.

Charles Hoskinson, the co-founder of Cardano and Ethereum, has projected that Bitcoin could ascend to $250,000 by the end of this year or early next year. He bases this optimistic forecast on an increase in speculative interest expected by late summer, underlined by a 13% rise in the number of global crypto users in 2024, reflecting the growing demand for decentralized finance alternatives.

In a recent interview with CNBC, Hoskinson indicated that various developments—including regulatory advancements and potential adoption by major technology firms—are poised to ignite the next growth phase for digital assets. He noted recent market volatility, attributed to shifts in global tariff policies and emphasized that normalization of the market and easing monetary policy could soon reintroduce liquidity into the cryptocurrency sector.

Hoskinson remarked, “The markets will stabilize a little bit, and they’ll get used to the new normal,” suggesting that an eventual Federal Reserve rate cut may channel capital back into cryptocurrencies. While Bitcoin dipped below $77,000 before bouncing back to $82,000 following President Trump’s 90-day tariff reprieve, Hoskinson retains a bullish perspective for the long term, largely due to progressing legislation in Washington.

He underscored the significance of the Stablecoin Act and the Digital Asset Market Structure bill, as their potential passage may provide necessary legal clarity and encourage adoption, especially among large corporations in the United States. Hoskinson also highlighted that major tech companies like Apple, Microsoft, and Amazon, collectively termed the “Magnificent 7,” could utilize stablecoins for cross-border payments, thereby enhancing the legitimacy of cryptocurrencies in international commerce.

In light of geopolitical uncertainties, Hoskinson posited that cryptocurrencies represent a resilient infrastructure amid a shift from cooperative treaties to competitive rivalries among global powers, stating, “If treaties no longer hold, and traditional finance becomes unstable, crypto is the most viable global solution.” He noted that the explosive growth of the crypto user base, which has expanded to 659 million in 2024, indicates a bright future for the market.

Looking ahead, Hoskinson anticipates the current market lull to extend until mid-year, followed by a surge in speculative activities around August or September, which he believes will pave the way for a significant uptick in both Bitcoin and the broader cryptocurrency market in the forthcoming months.

In conclusion, Charles Hoskinson identifies key factors that could drive Bitcoin’s potential rise to $250,000, including regulatory developments and the increased adoption of cryptocurrencies by major tech companies. Despite recent market volatility, he maintains a positive outlook, forecasting a resurgence in trading activity in the latter part of the year, bolstered by a growing user base and the resilience of cryptocurrencies amid geopolitical instability.

Original Source: www.benzinga.com

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