On April 1, Quinn Thompson, founder of crypto hedge fund Lekker Capital, said, "I can foresee that Bitcoin could return to more than $50,000 by the end of this year. I don't think this will happen anytime soon, which is why it will be very painful and shocking for people because the current market conditions are not so volatile, there are no large-scale liquidation and collapse."

Thompson has been pessimistic about Bitcoin’s ability to achieve higher prices. He repeatedly called the White House’s cryptocurrency-related announcements—whether it is sovereign wealth funds, strategic Bitcoin reserves, or anything in between—are “empty events” and “selling news” activities. He also believes that the continuous purchase of Bitcoin by Strategy (MSTR) is not necessarily a positive for cryptocurrency, as these seem to be the only major buys.

Thompson’s core view is that various policies of the Trump administration could have adverse effects on the economy over the next six to nine months.

Thompson said that given the adverse effects of headwinds on risky assets such as U.S. stocks and Bitcoin, the cryptocurrency industry is unlikely to perform well this year. He also mentioned that the White House does not seem to be too concerned about a possible recession, which is a strong signal in itself.

"After taking office, U.S. Treasury Secretary Scott Bessent said, 'We need to adjust the course.' And adjusting the course means cutting off the momentum that supports the prices of these crazy assets. The direct result of their policy being effective is a decline in U.S. stocks," Thompson said. (CoinDesk)