Stablecoins are a type of cryptocurrency that keeps a stable value by being tied to the US dollar. The GENIUS Act focuses on regulating stablecoins, requiring companies issuing stablecoins to hold a reserve of real assets to act as a backup. Some lawmakers believe this will prevent the stablecoin from collapsing and protect consumers.
The cryptocurrency has been supported by a more favourable overall economy, making investors more willing to spend on riskier assets. Analysts say this broader market optimism could further strengthen bitcoin price prediction models in the coming weeks.
“We firmly believe BTC is increasingly decoupling from its correlation to risk assets and beginning to behave more like an independent, reliable asset allocation, particularly in times of uncertainty,” Head of Global Markets and Corporate Finance at MHC Digital Group, Edward Carroll, said. “We maintain our view that BTC will reach at least US$160,000 by Q4 2025 and US$1 million by 2030 as this thesis plays out,” added him.
Donald Trump publicly pledged to support cryptocurrencies during his 2024 presidential campaign, making a significant shift from his earlier skepticism. He stated that he wants the U.S. to become the “crypto capital of the planet” and promised to ease regulations on crypto companies.
This commitment became evident in May 2024 when his campaign began accepting crypto donations, making him the first major party nominee to do so.
Also, at the beginning of this year, President Trump instructed the Treasury to set up a Strategic Bitcoin Reserve. On Tuesday, the Texas House of Representatives voted to approve the bill that would allow Texas to create a strategic reserve of Bitcoin and other cryptocurrencies.
Also, it’s worth mentioning that Bitcoin is not the only digital currency that surged over the last 24 hours. Ethereum (up 3.2%), XRP (2.4%), Solana (3.3%), and Dogecoin (2.7%) also experienced notable gains, reflecting a strong rise across the cryptocurrency market.
As for the bitcoin price prediction, Chris Weston makes a relevant statement: “In the crypto space, the setup and price action in Bitcoin looks outright bullish,” the Pepperstone’s head of research, stated for Barron. “If the pullbacks remain limited and well supported, then a new record high could come into play,” he mentioned.
On the other side, U.S. markets fell sharply on Wednesday, with the Dow dropping over 700 points as investors reacted to mixed earnings, economic data, and political uncertainty. Concerns are growing over President Trump’s proposed tax and spending package, which is expected to widen the deficit by $3 trillion.
Moody’s recent downgrade of the U.S. credit rating added to market anxiety. As confidence in traditional assets decreases, investors are increasingly turning to Bitcoin - a trend that continues to shape Bitcoin price prediction strategies globally.
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