Institutional crypto investment firm Bitwise is doubling down on its high Bitcoin price prediction for the year, despite growing global trade tensions. The firm’s chief investment officer, Matt Hougan, stated in a recent blog post that he believes Bitcoin will end 2023 at $200,000. He attributes this bullish outlook to factors such as burgeoning DeFi applications and increased institutional interest in cryptocurrencies. Hougan points to the potential impact of US President Trump’s trade policies on Bitcoin’s price. He explains that Trump’s efforts to weaken the dollar through tariffs may benefit Bitcoin due to the desire for alternative reserve currencies like gold.