A falling US Dollar Index historically correlates with Bitcoin strength, says Bitwise investment chief Matt Hougan.
Institutional crypto investment firm Bitwise has doubled down on its big Bitcoin price prediction for this year despite escalating global trade tensions.
“In December, Bitwise predicted that Bitcoin would end the year at $200,000. I still think that’s in play,” Bitwise chief investment officer Matt Hougan said in an April 9 blog post.
He suggested that the fallout from US President Donald Trump’s global tariff push could be beneficial for Bitcoin (BTC) and crypto because his administration “wants a weaker dollar, even if it means ending its role as the world’s reserve currency.”
