Opinion: Bitcoin Faces A New Crisis Of Confidence Despite Trump’s Recent Efforts

Bitcoin’s impressive rise at the end of 2024 and January 2025, fueled by optimism in the crypto market and political support from major global leaders, seems like a distant memory now. After surpassing the $100,000 milestone, the cryptocurrency has faced a sharp decline, leaving investors questioning its trajectory and transforming enthusiasm into uncertainty

By the end of 2024, the crypto market thrived, spreading enthusiasm and passion among investors, experts, and enthusiasts. Bitcoin surpassed $100,000 for the first time in December, institutional investors piled in, and Trump positioned himself as a pro-crypto candidate, and “the savior” of the crypto market. However, that momentum has faded in 2025.

During the first few weeks of the year, the value of Bitcoin declined as no new announcements came from the U.S. government, nor were there any significant changes to sustain the upward trend.

Finally, in March, the long-awaited announcements arrived, but they seemed to fall short of investors’ and crypto enthusiasts’ expectations. What is happening in the crypto market, and what do experts predict will happen with Bitcoin in the coming days?

An Unstable Start To The Year

After reaching its all-time high in January 2025, surpassing $109,000, Bitcoin failed to maintain its record-breaking momentum. This peak was initially fueled by the optimism surrounding a promising start to the year for the crypto market and support from a major world leader. However, the cryptocurrency’s value unexpectedly declined in the following months

Even in a bull market, a value adjustment is normal. However, the decline was also impacted by other unexpected events, such as the largest crypto theft in history. In February, the exchange platform Bybit suffered one of the most shocking attacks the market has ever seen. A group of hackers managed to steal over 400,000 Ethereum coins, equivalent to $1.5 billion at the moment.

This event sparked new uncertainties in the market, causing the value of the most important cryptocurrency to waver once again, this time under $80,000.

A few days later, Trump began taking action on his promises for the crypto world and announced the U.S. government’s cryptocurrency reserve, but it doesn’t seem to generate much hope in the market. Also, his recent tariff changes do not convey much stability or confidence to investors.

Different Opinions Among Experts

This year’s corrective selloff, considered the worst since 2022, shocked many investors—including experts—also fueling various theories and explanations.

“I was surprised to see bitcoin at $80,000 and it looks like the bloodletting hasn’t ended yet,” said Kevin Dede, an analyst at investment bank H.C. Wainwright, to Reuters a few days ago.

The decline of Bitcoin has primarily impacted new investors who entered the market during the uptrend—some when it was above $100,000. Not used to crypto volatility, they have been hit by the currency’s devaluation. According to statistics shared by Reuters, at least $20 million Bitcoin addresses in the market—around 1.5% of the total—belong to new accounts created in recent months.

And, while some argue that the digital currency will continue to lose value, others see it as an opportunity to buy more and wait for an increase, focusing on the “buy the dip” movement.

Drops Below $70,000

Although Bitcoin has remained above $82,000, regaining some stability in the past few days, some analysts and experts believe it will continue to decline in the coming weeks.

The economist Peter Schiff drew a connection to Nasdaq’s behavior, estimating that if the market remains in a bear trend, Bitcoin could approach 60,000 or even lower.

“The NASDAQ is down 12%,” wrote Schiff on the social media platform X.  “If this correction turns out to be a bear market, and the correlation where a 12% decline in the NASDAQ equates to a 24% decline in Bitcoin holds, when the NASDAQ is down 20%, Bitcoin will be about $65K.”

The expert also compared possible, more pessimistic scenarios, such as the 2008 dot-com bubble and the COVID-19 pandemic, where the Nasdaq market dropped an average of 55%. He estimated that if something similar happens, Bitcoin could fall below $20,000.

Rises Above $300,000

Although the market is unstable and the decline in cryptocurrency values may continue, many remain optimistic.

“It’s the macro conditions that are freaking everybody out right now,” said JP Richardson, the CEO of cryptocurrency wallet platform Exodus (EXOD), in a recent interview with Yahoo Finance. “Those of us that are in the industry remain hyper bullish…I’m trying to buy as much bitcoin as I can right now.”

“Because of what the [Trump] administration in America has done, you know that other countries are looking at bitcoin as a national strategic asset to put on their own balance sheet.” Exodus CEO @jprichardson says. pic.twitter.com/9F968JsoVU

— Yahoo Finance (@YahooFinance) March 10, 2025

JP Richardson was among the crypto leaders who met with Trump at the White House a few days ago, and assured that the U.S. government’s decisions will serve as a reference for other nations and companies and that it is only a matter of time before optimism among crypto investors returns.

In January, the popular milestone for Bitcoin’s value in the near future was $300,000, and, despite what has happened, there are those who believe that the cryptocurrency will reach an even higher amount.

Many users on X, like Josh Mandell, remain confident about the following crypto developments. “This time is different,” wrote Mandell—who identifies himself as a market analyst and promotes Bitcoin investment to his over 94,000 followers—on the social media platform X in a weird crypto poem.

Mandell assures that once Bitcoin stabilizes at 84,000, it will become the new starting point for reaching new peaks above 444,000—according to Forbes’ interpretation—and that the digital currency will hit 100,000 by the end of March.

There are even more optimistic crypto enthusiasts than Mandell, such as former Twitter CEO Jack Dorsey, who expects Bitcoin to reach $1 million by 2030—a theory recently endorsed by other experts.

Market Polarizations Cloud the Future

As suggested by JP Richardson in the interview, some companies and states have opted for the adoption of cryptocurrency strategies following the new measures of the Trump administration. One of Spain’s largest banks, BBVA, announced that it will offer its customers the option to buy Bitcoin and Ethereum with expansion possibilities.

Moreover, the Brazilian unicorn Meliuz announced the adoption of a reserve strategy with Bitcoin, and lawmaker Luiz Phillipe of Orleans-Braganza just introduced a bill to allow citizens to receive part of their salary in Bitcoin according to local news portal Livecoins.

At the same time, nations like South Korea announced that they do not share the American government’s vision and consider cryptocurrencies to be too volatile and carry too high a risk to create a reserve and follow this market trend.

Other American institutions like the American financial firm Edward Jones believe in Bitcoin’s potential but also consider it too volatile and unstable. “[Crypto] could become an asset class,” said CEO Penny Pennington in a recent interview with Fortune. “We believe that [crypto] is incredibly speculative at this point and is not well proven.”

Predicting Bitcoin’s future based on expert opinions resembles forecasting the near future using different astrologers and their preferred oracles. The projections, especially short-term ones, are highly polarized.

What’s clear is that the current decline has taken many by surprise and has awakened insecurities in a large group of investors. However, cryptocurrency enthusiasts—especially those who have been betting on the crypto market for years—agree that this is just a temporary setback.