On April 9th, COINOTAG News cited trader Eugene, who noted that the implementation of global trade tariffs signifies a pivotal shift in the economic landscape, reminiscent of changes witnessed over the last five decades. He emphasized that while free trade has historically enhanced productivity and fueled extensive economic expansion, the current move toward protectionism could have profound implications on global risk assets, potentially manifesting over many years unless a drastic policy reversal occurs.
Eugene expressed concerns regarding the waning activity among cryptocurrency developers, suggesting that this decline may pose the greatest risk to the sector. In prior cycles, heightened developer engagement provided assurance of ongoing innovation; however, the current landscape lacks significant advancements, leaving future outlooks bleak. While past cycles brought optimism around ETFs and improved regulations, recent developments have fallen short of expectations, perpetuating a cycle of disillusionment within the crypto space.
With no compelling advancements on the horizon, Eugene plans to reevaluate his cryptocurrency positions, believing that his operational scale should be reduced during this period. Despite these challenges, the enduring appeal of Bitcoin remains a silver lining, as its growing global acceptance may enable long-term investors to capitalize effectively. Eugene boldly suggested that a price point of $1 million per Bitcoin by 2035 could be feasible, provided that market conditions align favorably.