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Cryptocurrency markets continue their tranquil Monday, enduring losses in altcoins due to low trading volumes. While BTC remains relatively stable, altcoins like AVAX, DOGE, and ADA are experiencing losses exceeding 3%. What does the billionaire who shares a bold prediction for Trump expect? Will cryptocurrencies rise?
Will Cryptocurrencies Rise?
Since Trump took office, U.S. stocks have faced a staggering $10 trillion loss. Although BTC has seen a new all-time high, some altcoins have hit new lows. Tariffs threaten to cripple global trade and significantly decrease production worldwide, leading to rising recession concerns and a substantial drop in oil prices.
When the U.S. President assumed office, he promised to lower interest rates and oil prices. However, no one anticipated that such a drastic approach would lead to reduced demand and push the U.S. into a recession.
However, today, billionaire Bill Ackman’s forecast suggests that the tide could turn, indicating that cryptocurrencies might rise. If that is the case, current prices could be excessively low.
Billionaire’s Prediction
In his assessment, Bill wrote that Trump would likely backtrack. Recent statements revealed ongoing negotiations with several countries. One of the most intense negotiations is being led by the UK, but they too stated, “we do not expect to be exempt” before the tariffs were announced. So, why and how could Trump retract?
Ackman noted;
“It’s not hard to predict that President @realDonaldTrump’s phone has been ringing off the hook. The practical reality is that there isn’t enough time to make a deal before the tariffs take effect.
Therefore, I wouldn’t be surprised if I wake up Monday to an announcement that the President has delayed the tariffs to buy himself time to make a deal.
President Trump has captured the attention of the world and our trading partners, heightening the importance of resolving an unfair tariff regime that has harmed American workers and destroyed our industry for decades.
This is an extremely important issue that needs resolution, and we finally have a president determined to get it done. However, issues cannot be solved within days, so why wouldn’t a pause make sense to give the President time to address this critical matter properly and allow big and small companies time to adjust their supply chains?
Failing to do this risks a massive increase in uncertainty that could plunge the economy into a recession, potentially severe. One thing is certain. Monday will be one of the most interesting days in our country’s economic history.”
