Zach Burks, CEO of Mintology, shared with crypto.news some sentiment on current market conditions.
Burks shared, in a note to crypto.news, that gold remains the preferred safe-haven asset for institutions, while Bitcoin (BTC) is increasingly the retail investor’s hedge against economic instability.
Burks touched on the surge in gold prices, attributing it to institutional investors as the main driving force. He predicts short-term spikes above $3,500, followed by a correction after ‘Liberation Day.’
Burks warns of heightened market volatility tied to former President Donald Trump’s anticipated ‘Liberation Day’ event, describing it as a potential “atomic bomb” for financial markets.
“Trump’s ‘Liberation Day’ is going to be an atomic bomb on the current markets – and crypto isn’t safe in the immediate term,” Burks wrote.
Burks expects Ethereum (ETH) to drop to $1,600 and Bitcoin to fall below $80,000 in response to retaliatory tariffs.
Crypto’s reaction
The crypto market initially rebounded in the early week as traders welcomed clarity on Trump’s trade strategy, with Bitcoin, Ethereum, and other major altcoins seeing gains.
However, market sentiment quickly shifted as concerns over reciprocal tariffs resurfaced, leading to a broader decline in crypto and traditional markets.
Burks sees long-term bullish prospects for Bitcoin, driven by capital shifts away from traditional financial systems.
“The outcome for crypto will be positive,” Burks wrote. “Bitcoin prices will rocket in the long term, as institutional investors move capital away from increasingly unstable US-led institutions.”
With global instability resembling pre-WWII conditions, Burks predicts a major geopolitical realignment, impacting trade, alliances, and financial markets.
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