The trade war initiated by US President Donald Trump and worsening macroeconomic conditions have put pressure on the crypto market. Kevin O’Leary, known as 'Mr. Wonderful', shares his perspective on the situation.
Pressure on the Crypto Market
The crypto market is under significant pressure due to US President Donald Trump’s trade war and the general deterioration of macroeconomic conditions, with analysts predicting the end of the bull market and the onset of a bear market.
Interview with Kevin O’Leary
In a Cointelegraph interview, Kevin O’Leary stated that despite the turbulence, he remains optimistic about Bitcoin’s future. He expects prices to rise by the end of the year, driven by several key factors.
The Importance of the GENIUS Act for Crypto
O’Leary emphasizes the need for regulatory clarity, particularly around stablecoins. He believes that the US Congress will soon pass the GENIUS Act, which will significantly change the market: 'We have been waiting for almost seven years for this legislation. I have a feeling it’s going to make it, and when that happens, it’s a game changer.'
The GENIUS Act could play a pivotal role in stabilizing the crypto market. Its passage will provide much-needed stability and legitimacy for the cryptocurrency industry.
