In a recent interview, Charles Hoskinson, the founder of Cardano, expressed optimism for Bitcoin (BTC) holders, predicting that the leading cryptocurrency may rebound from its current losses and achieve a new all-time high. Hoskinson suggested that Bitcoin could ascend to $250,000 by the end of 2026, marking a significant recovery.
Hoskinson described Bitcoin as being on the verge of a recovery phase that could see it regain lost ground in the upcoming months. He emphasized that the cryptocurrency is currently experiencing temporary setbacks primarily due to macroeconomic influences. According to him, factors such as tariffs and other economic uncertainties have negatively impacted Bitcoin”s price, asserting that “crypto is not immune to the macro.” Since reaching a peak above $126,000 in October, Bitcoin”s value has plummeted below $90,000, effectively nullifying its annual gains.
Despite these sharp declines, Hoskinson remains bullish on Bitcoin”s potential for a substantial rally in the next two quarters. He noted that institutional investors would likely spearhead the forthcoming bull market, contrasting with past cycles that were predominantly driven by retail interest. Major financial entities such as BlackRock, JPMorgan, and Goldman Sachs are actively seeking to accumulate Bitcoin, indicating a shift in market dynamics.
In addition to the anticipated influx of Bitcoin exchange-traded funds (ETFs) and hastened adoption by treasury companies, Hoskinson”s optimistic outlook is also supported by the increasing prevalence of stablecoins and the tokenization of real-world assets. He pointed out that retail investors will still play a vital role in this upcoming bull run, with estimates suggesting the number of cryptocurrency holders could reach 1 billion.
In his remarks, Hoskinson stated, “The fundamentals are just sound. There is no way for this market to stay depressed forever,” reinforcing his belief that the current market conditions reflect broader economic trends.
Previously, Hoskinson had projected a much higher price target for Bitcoin, suggesting a potential rise to $1 million, although he did not specify a timeline for that projection. Meanwhile, various analysts have voiced their predictions for Bitcoin”s end-of-year price, with an average estimate around $150,000. However, ongoing market performance has cast doubt on these forecasts, as BTC struggles to maintain levels above $85,000.
While Bitcoin faces challenges, other cryptocurrencies are also navigating a difficult landscape. Ethereum and XRP have seen their prices drop below $3,000 and $2, respectively, while coins like BNB, SOL, and DOGE have experienced losses exceeding 5% in recent days. In the broader cryptocurrency market, CoinMarketCap data indicates a slight uptick, with the total market capitalization rising by 2.44% to $3.12 trillion.
