According to CoinDesk, Grayscale’s Head of Research Zach Pandl stated that the upcoming tariff policies in the United States may have already been priced in by the market, suggesting that the worst period may be over for cryptocurrencies.
U.S. President Donald Trump is set to announce tariff measures at 4 PM Eastern Time on April 2. Reports indicate that he will propose a “Reciprocal Tariff” policy affecting 15 countries, including China, Canada, and Mexico.
Pandl estimates that the tariffs have resulted in a 2% decrease in economic growth this year, but the announcement of new policies could effectively end the most severe pressures felt by financial markets.
Pandl stated that if institutions did not have high confidence in the digital asset space and its related policies, news such as Circle advancing its IPO plans would not emerge during this period.
Additionally, this former Goldman Sachs economist and macro strategist believes that tariffs will increase market interest in non-U.S. dollar currencies. He remarked:
Even amidst the current market sentiment, Pandl still believes that Bitcoin prices will reach new all-time highs this year. He stated, “If I didn’t believe that Bitcoin would prevail in the long run, I wouldn’t have left my job on Wall Street.”