Grayscale executive: The impact of tariffs on cryptocurrencies may have been "counted", and the worst case is likely to be over

PANews April 2 news, according to CoinDesk, Greyscale Research Director Zach Pandl said that the impact of tariffs on cryptocurrencies may have been "counted" and the worst may have passed. Pandl estimates that tariffs have reduced economic growth by 2% so far. But what Trump calls “liberation day” may actually prevent the worst pain that financial markets feel. "If we see the tariff policy announced on Wednesday is both tough and phased, and focusing on the 15 countries they seem to target, I expect the market to rebound due to this news. Once we get through this announcement period, the cryptocurrency market may refocus on fundamentals, which are very positive," Pandl said. If institutions do not have high confidence in the digital asset space and its related policies, announcements like Circle's initial public offering (IPO) would not happen.

In addition, Pandl believes that tariffs will increase demand for non-US dollar currencies. Despite the current market pessimistic attitude towards prices, Pandl still believes Bitcoin will hit an all-time high this year. "If I didn't think Bitcoin would win in the long run, I wouldn't have quit my job on Wall Street," he said.