Bitcoin climbed above $101,000 on Trump’s inauguration day, but now sits around $89,490. In this opinion piece, that gap is used as evidence that the crypto industry’s recent mix of political optimism and aggressive price targets did not hold up through 2025.
The article frames the disappointment as part of a broader drift in crypto’s identity. What was once sold as a financial independence project — one meant to reduce reliance on gatekeepers and restore trust in a system shaped by excess and exclusion — has, in the author’s view, been diluted by speculation, influencer-led narratives, and short-term hype.
Memecoin mania and hype-driven trading
The piece says memecoins and influencer promotion pushed large parts of the market toward a “digital casino.” Tokens were launched for laughs, traded on momentum, and abandoned just as quickly. That pattern, the author argues, crowded out the sector’s claims of building durable financial infrastructure. The market kept moving, but often in circles.
During the 2024 U.S. election cycle, many crypto bulls lined up behind Donald Trump. His pro-crypto messaging and friendlier regulatory posture were seen as a route to legitimizing digital assets in the United States. Major exchanges and industry figures contributed to favored candidates, and some also supported Trump’s inauguration events. According to the article, political alignment and financial self-interest briefly moved in the same direction for the sector.
High-profile 2025 forecasts fell short
The article then lists a group of prominent Bitcoin advocates whose 2025 targets did not materialize. Michael Saylor projected Bitcoin could reach about $150,000 by the end of 2025, citing regulatory and adoption tailwinds. Tim Draper repeated his long-running call for Bitcoin at roughly $250,000 by year-end 2025.
Tom Lee was also presented as a major bullish voice, with expectations that 2025 would end well above current levels, often in the $150,000 to $250,000 range. Cathie Wood and ARK Invest placed Bitcoin in the low six figures by the end of 2025 as part of a long-term adoption thesis. Anthony Scaramucci forecast a $180,000 to $200,000 range for 2025, pointing to supply constraints and institutional inflows; the piece also notes that he has become a sharp Trump critic, especially over Trump’s memecoin activity.
2026 opens with stalled momentum
As 2026 gets underway, the article says the crypto outlook remains unclear, with legislation stalled and last year’s optimism giving way to harder lessons. Citing Protos, it argues that despite Trump’s pro-crypto rhetoric, adoption and market performance have trailed the pace seen under the Biden administration.
The author leaves one question open: whether Biden-era regulatory clarity, institutional inflows, and ETF approvals helped sustain growth. No firm answer is offered. What the piece does assert is that the sector is now in a bear market, momentum has stalled, and public confidence has been shaken. That leaves the industry facing a direct test of whether crypto can stand as serious financial infrastructure, or remain locked in recurring cycles of hype and speculation.