Analyst said, "If there were no customs duties, Bitcoin would be 150 Thousand Dollars now," and shared the new price target for the year!

Bitcoin's price has been under pressure in recent weeks due to the new tariffs announced by U.S. President Donald Trump, but analysts continue to be confident in long term rise outlooks.

Despite today's market decline, some experts predict that BTC will rise to new peaks before the end of the year.

Ryan Rasmussen, the Research Director of Bitwise, confirmed the company's year-end price target of $200,000 for Bitcoin in a statement and stated that the recent market turbulence is merely a temporary setback.

Rasmussen said, "When the market finally escapes this 'Day of Salvation' chaos, we will start to see the market pulling back upwards" and added: "We love to use the analogy of stored dry powder for when good news finally reduces this volatility and uncertainty."

The correlation of Bitcoin with the technology sector has strengthened in recent years, especially as gold has reached record levels. However, Rasmussen noted that Bitcoin has performed better than gold, the S&P 500, and Nasdaq since November 5, encouraging investors to look from a broader perspective.

Rasmussen, referring to the White House's decision to create a Bitcoin reserve, regulatory changes, and the increasing participation of sovereign wealth funds, said, "We have received wonderful news that has grown exponentially over the past few months" and added: "If it weren't for the looming customs duty fears, this market should have already reached the level of 150,000 dollars."

Rasmussen also stated that some of these tariffs could be withdrawn and that despite the current economic uncertainties surrounding trade and immigration policy, he expects the FED to lower interest rates later this year.