Eric Trump Sets $1 Million Bitcoin Target As Price Stays Below $70K

• Eric Trump predicts Bitcoin could eventually reach $1 million.
• He says Bitcoin has outperformed most assets over the decades.
• Market sentiment shows extreme fear and heavy liquidations.

Eric Trump has made one of the boldest long-term calls in crypto yet, saying he believes Bitcoin will eventually reach $1 million. In a recent interview, he described himself as “never more bullish” on Bitcoin and cryptocurrency overall, pointing to its historical performance as the main reason for his confidence.

Trump opened up about how Bitcoin traded near $16,000 just two years ago and now sits around $70,000, showing how quickly it can recover and expand after downturns. He also said that over the past decade, Bitcoin has delivered an average annual return of roughly 70% per year, making it one of the strongest-performing asset classes in modern financial history.

‘Go Invest In Some Treasury’

“Name another asset class that has performed better,” he argued, while acknowledging that volatility comes with the territory. According to him, investors looking for stability might prefer traditional assets, but those chasing long-term upside are drawn to Bitcoin’s growth potential.

“And now, obviously, you have lots of volatility. If you don’t want volatility, go invest in some treasury. You’re going to have volatility with something that has tremendous upside. But I’ve never been more bullish on Bitcoin in my life. I’ve never been more bullish on cryptocurrency in my life,” he said.

Long-Term Optimism vs. Short-Term Turbulence

While Trump’s forecast focuses on the long term, the short-term picture looks more bearish. The broader crypto market recently declined 1.24% in 24 hours, bringing total market capitalization to around $2.3 trillion. Analysts attribute the drop largely to institutional caution ahead of upcoming Federal Reserve decisions.

Market sentiment is also playing a major role. The Fear & Greed Index recently dropped to 11, signaling “extreme fear.” In the last 24 hours alone, over $57 million in Bitcoin liquidations were recorded, mostly from long positions. That forced selling amplified the downside move.

At the time of writing, Bitcoin is trading at $67,000 and is down by more than 1% in the last 24 hours. Standard Chartered has revised its outlook for leading cryptocurrencies, lowering its previous projections. The bank now anticipates Bitcoin could move back toward the $100,000 level, compared to its earlier estimate of $150,000.

Related: “Milder” Bitcoin Downturn Will be Over Soon, Says Michael Saylor