Zach Burks, the CEO of Mintology, recently provided insights on the current market landscape.
In a communication, Burks noted that gold continues to be the favored safe-haven asset for institutions, whereas Bitcoin (BTC) is becoming the go-to hedge for retail investors against economic turbulence.
He highlighted the recent rise in gold prices, attributing this surge primarily to institutional demand. Burks anticipates short-term spikes that could exceed $3,500, followed by a market correction post what he refers to as ‘Liberation Day.’
Burks cautioned about increased market volatility connected to the forthcoming anticipated event tied to former President Donald Trump, labeling it a potential “atomic bomb” for the financial landscape.
“Trump’s ‘Liberation Day’ is poised to be an atomic bomb for the current markets, and crypto isn’t insulated from the immediate fallout,” Burks commented.
He forecasts that Ethereum (ETH) may decrease to $1,600, while Bitcoin could dip below $80,000 in the face of retaliatory tariffs.
Market Response
The crypto market initially enjoyed a bounce earlier in the week as traders responded positively to clarifications regarding Trump’s trade policies, resulting in gains for Bitcoin, Ethereum, and other major altcoins.
However, the optimism was short-lived as fears regarding reciprocal tariffs began to resurface, leading to declines across both crypto and traditional markets.
Despite the fluctuations, Burks maintains a bullish outlook for Bitcoin in the long run, predicting a shift of capital away from conventional financial systems.
“The future looks promising for crypto,” Burks stated. “Bitcoin prices are set to soar over time as institutional investors withdraw funds from increasingly precarious US-led institutions.”
With global conditions mirroring pre-WWII scenarios, Burks foresees significant geopolitical shifts that will affect trade, alliances, and financial markets.