Bitcoin to $200K+ This Year? These 2 Crypto Investors Think So - Ep. 817

Unchained

Laura Shin

News, Tech News, Business News

4.5 • 1.3K Ratings

🗓️ 15 April 2025

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The crypto markets are at a crossroads. While macro chaos — tariff whiplash, rising yields, and inflation fears — continues to dominate headlines, bitcoin has barely budged. And some say that’s exactly the signal. In this episode, Matt Hougan of Bitwise and Matthew Sheffield of FalconX join Laura to unpack the tension between short-term volatility and long-term conviction. They explore why this cycle may look very different from previous ones, how institutional capital is navigating crypto, and whether we’re entering a new era defined by fundamentals, not just narratives. Plus: Why bitcoin might hit $200K, what Ethereum needs to reclaim momentum, and the real potential of DeFi under this new administration. Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Bitwise Human Rights Foundation Guest: Matt Hougan, CIO of Bitwise Previous appearances on Unchained: How Small Bitcoin ETF Issuers Will Compete With the Likes of BlackRock Why a Spot Bitcoin ETF Will Probably Launch No Later Than January 10 Matthew Sheffield, Senior Trader at FalconX Links Subscribe to our new crypto + macro newsletter! https://bitsandbips.beehiiv.com/subscribe Recent coverage of Unchained on the economy and tariffs: Why CoinFund Believes There’s Still a Strong Bull Case for Bitcoin and Crypto Arthur Hayes on Why Tariffs Will Be Good for Bitcoin and Crypto Bits + Bips: Why a U.S. Recession May Be Coming — And Still Isn’t Priced In Bits + Bips: Trump’s Tariffs Are Causing Mayhem, But Will They Revive U.S. Manufacturing? Trump Tariffs Sink Crypto, BlackRock Pumps Bitcoin’s Bags Why Trump-Induced Stagflation Could Finally Make Bitcoin a Safe Haven In Market Crash, What Should You Buy? Crypto VCs Are Making These Bets Bitcoin Tops $83,000 as Tariff Pause Sends Markets Soaring Crypto Traders See Another $1B Liquidated Amid Tariff Turbulence Recession incoming? Ray Dalio’s remarks on Meet the Press Timestamps: 📍 0:00 Introduction 🧠 3:48 “An extraordinary moment to live in,” says Matt ⚖️ 5:21 The growing disconnect between long-term belief and short-term pain 🔍 7:40 Why fundamentals are finally taking center stage in investor analysis 🐻 12:34 Solana’s memecoin reputation… can it shake the stigma? 🏛️ 14:29 How ETFs permanently changed crypto market dynamics 📉 15:27 What the 10-year treasury is telling us about bitcoin’s next move 📊 20:28 What crypto options are revealing about investor sentiment 📈 22:33 Whether Ray Dalio is right about where the U.S. economy is headed 💵 28:16 What a weaker dollar means for bitcoin’s value 🚀 31:17 Is $200K bitcoin coming? And who will drive it there? 🌊 38:55 What has to happen for alt season to actually return 🔄 44:40 What light ETF outflows since “Liberation Day” mean 📈 51:10 Why crypto IPO demand is heating up ⚖️ 54:37 DeFi’s big regulatory moment and why the market might be missing it Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hey everyone, thank you for supporting Unchained, where we do our best to help you stay on top of
0:05.8	crypto news. If you enjoy the show, we'd really appreciate it if you could take a moment right now
0:11.4	to leave us a five-star review. This helps other listeners discover Unchained. And who knows,
0:17.5	you may hear me read your review on an upcoming episode. I did want to ask you, Matthew,
0:22.3	because Matt gave his price projection for Bitcoin this year at 200K. Do you have one?
0:28.4	So I would say my projection is higher. I don't have quite as well-defined price target as Matt does,
0:34.7	but I do think that we continue to see the ETFs perform well.
0:38.7	I think last year around this time I said I thought there'd be about 40 to 80 billion of inflows.
0:43.0	It would not surprise me to see the higher end of that range this year.
0:46.9	And so the math kind of falls out therein, even if I'm not publicly given a price target, just giving the seat.
0:56.7	Hi, everyone. Welcome to Unchained, your no-hype resource for all things crypto. I'm your host,
1:01.6	Laura Shin. We are now featuring quotes from listeners on the show. Today, we have comments
1:06.2	responding to my interview with coin funds Seth Gins about his outlook for crypto. On X, Allawi Capital says,
1:13.4	Interesting breakdown. The long-term bullcase for Bitcoin is definitely compelling,
1:17.5	especially with the potential alt-coin season ahead. Ripple effect of tariffs on crypto is often
1:22.1	underestimated. Also in X, Rejram Rick says, Bullmark season never ends, bro.
1:30.9	To have your comment featured, write a review of the podcast overall,
1:34.3	or leave a comment on our video on YouTube, X, or Farcaster.
1:38.3	This is the April 15th, 2025 episode of Unchained.
1:40.0	Crypto moves fast.
1:43.2	It's why Bitwise launched the weekly CIO memo,
1:45.7	a jargon-free summary of what's moving crypto markets, written by one of the best in the business, CIO Matt Hogan.
	...

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