Trump Administration’s New “Liberation Day” Sparks Financial Market Turmoil
The existence of the new “Liberation Day” under the Trump administration has plunged the U.S. financial markets into a downward spiral. In fact, U.S. stock markets and the cryptocurrency sector are struggling in action. However, Standard Chartered remains bullish on Bitcoin, reiterating a $500,000 target for the asset during Trump’s second term.
The bank had previously stated that the leading cryptocurrency could reach this milestone before the end of Trump’s second term in the Oval Office. However, this has been called into question amid recent economic downturns that have seen the asset drop below $82,000. Nevertheless, for some key reasons, analysts remain steadfast in their belief in its eventual recovery.
Source: Lippincott
Also Read: Is Wall Street Displeased with Trump’s Tariffs?
Standard Chartered Reaffirms Bitcoin at $500K Before 2028
U.S. stock markets faced chaos on Thursday, with the Dow Jones Industrial Average plummeting by over 1,400 points. The primary cause seems to be the existence of a 10% baseline tariff raised by the Trump administration. Undoubtedly, this move will impact many financial markets, but will it cause the cryptocurrency sector to retreat?
A key institution has stated that there is less focus on digital assets. Indeed, Standard Chartered has reaffirmed its $500,000 Bitcoin target before the end of the U.S. president’s second term. This sentiment ensures that BTC will reach new all-time highs before 2028.
Source: Japantimes
Also Read: Will the FCA’s Approval of Game-Changing Bitcoin ETP Drive Crypto Boom?
Standard Chartered analyst Geoff Kendrick stated, “We expect that once the ETF market matures, volatility will gradually decrease, thereby increasing the share of Bitcoin in the optimal BTC portfolio.” He told Beincrypto.
As Bitcoin still faces a bullish outlook, many cryptocurrency experts share this sentiment. Amid the tariff drama, Michael Saylor tweeted: “There are no tariffs on Bitcoin.” In fact, in the long term, the declining values of traditional markets may bode well for this asset class.
