'Liberation Day' Will Be 'Atomic Bomb' For Crypto

Zach Burks, CEO of Mintology, shared with crypto.news some insights on the current market situation. In a note sent to crypto.news, Burks shared that gold remains a safe-haven asset favored by institutions, while Bitcoin ( BTC ) is increasingly becoming a hedge against economic instability for retail investors. Burks mentioned the rise in gold prices, stating that institutional investors are the main driving force. He predicts that gold prices will spike in the short term above $3,500, followed by a correction after 'Liberation Day'. Burks warns of increased market volatility related to the anticipated 'Liberation Day' event of former President Donald Trump, describing this event as a potential "nuclear bomb" for the financial markets. Burks wrote: "Trump's 'liberation day' will be a nuclear bomb for the current markets – and cryptocurrency is not safe in the near future." Burks predicts that Ethereum ( ETH ) will drop to 1,600 dollars and Bitcoin will fall below 80,000 dollars in response to retaliatory tax levels. You may also like: The Trump family joins Bitcoin mining; NR7 Miner emerges as a top choice in cloud mining. Reaction of Crypto The cryptocurrency market initially recovered early in the week as traders welcomed clarity in Trump's trade strategy, with Bitcoin, Ethereum, and other major altcoins all seeing price increases. However, market sentiment quickly changed as concerns over reciprocal tariffs re-emerged, leading to a broader decline in both the cryptocurrency and traditional markets. Burks sees long-term price growth potential for Bitcoin, driven by the shift of capital away from traditional financial systems. "The results for cryptocurrencies will be positive," Burks wrote. "Bitcoin prices will soar in the long term as institutional investors move capital away from increasingly unstable U.S.-led institutions." With the global instability resembling the situation before World War II, Burks predicts that there will be a significant geopolitical adjustment, impacting trade, alliances, and financial markets.