Sometimes predictions age like fine wine. Other times, they age like milk in the sun. Eric Trump, co-founder of American Bitcoin Corp. (ABTC), falls somewhere in between with his September forecast that the fourth quarter would be "unbelievable" for cryptocurrency. He was technically right—it has been unbelievable. Just not in the way anyone wanted.
The Optimistic September Forecast
Back on Sept. 26, Trump laid out his bullish thesis during an interview. He expected the fourth quarter to deliver spectacular results for crypto, driven by what he saw as favorable macroeconomic conditions on the horizon.
His reasoning hinged on two key catalysts: a rising M2 money supply and the Federal Reserve potentially returning to quantitative easing. Both scenarios would theoretically pump liquidity into the system, and crypto tends to love liquidity like plants love sunshine.
Trump also leaned on historical precedent. The fourth quarter has traditionally been kind to digital assets, making his optimism seem grounded in data rather than wishful thinking.
Fast forward to mid-quarter, and the script has flipped entirely.
The Harsh Reality
Bitcoin and Ethereum—the two heavyweights that essentially define market sentiment—have taken a beating since the quarter kicked off. Bitcoin has dropped 16.76% while Ethereum has fallen 23.12%.
To put that in perspective, Bitcoin historically averages a 77% gain during the fourth quarter. Ethereum typically posts a 19% increase over the same period. Instead of riding those historical tailwinds, both assets are fighting headwinds.
| Cryptocurrency | Price (Sept. 30) | Price (12:30 a.m. ET) | Change |
| Bitcoin | $114,056.08 | $94,931.24 | -16.76% |
| Ethereum | $4,145.96 | $3,187.17 | -23.12% |
Bitcoin has tumbled below the psychologically important $100,000 threshold and now sits roughly 24% below its recent peak from last month. That's not a gentle correction—that's a proper drawdown.
Trump's Long-Term Defense
Interestingly, Trump isn't backing down. Last week, he argued that fixating on short-term price movements completely misses the forest for the trees. Bitcoin, he pointed out, has historically delivered around 70% annual returns on average—numbers that leave stocks, gold, and real estate in the dust.
Volatility, according to Trump, is simply baked into the asset's DNA. It's not a bug; it's a feature. If you can't stomach the wild swings, you probably shouldn't be in the crypto casino to begin with.
That's a fair point, even if it doesn't make the current correction any easier to swallow for investors who bought near the top.
Price Action: American Bitcoin Corp. (ABTC) shares closed 2.53% higher at $4.860 during Friday's regular trading session. The stock has been lagging on value metrics and remains in a downward trend across short, medium, and long-term timeframes.