“Arthur Hayes, co-founder of BitMEX, boldly declares ‘This is the trigger’ as he urges investors to seize the opportunity and place their bets on Bitcoin, signaling a potential turning point in the cryptocurrency market.”
Bitcoin Faces “Trigger” Moment for $1 Million Price Tag, Says Arthur Hayes
Bitcoin (BTC) is facing a crucial moment that could potentially lead to a $1 million price tag, according to Arthur Hayes, former CEO of crypto exchange BitMEX. In a recent blog post titled “The Periphery,” Hayes suggests that Bitcoin is already signaling future market trends.
Hayes believes that the risk of global escalation is growing, with the United States being involved in two new wars. As the US Federal Reserve faces persistent inflation and halts interest rate hikes, an economic phenomenon known as a “bear steepener” looms. This situation, along with the borrowing needs of the US war machine, could lead investors to seek alternatives to long-term US Treasury bonds.
Bitcoin and gold could benefit from these circumstances, rising in value due to fears of global wartime inflation. Recent events, such as US President Joe Biden’s address on the Ukraine and Israel wars, have already caused BTC/USD to increase by 15% this week.
Hayes is known for his predictions regarding global economics and inflationary eras post-COVID-19. He suggests that Bitcoin’s price could reach $1 million due to yield curve control (YCC), a controlled economic strategy already being implemented in Japan.
To further support his claims, Hayes mentions that the Federal Reserve could fix the interest rates on US Treasury bonds at politically expedient levels, revealing the true nature of the market. Once this becomes apparent, the Bitcoin and cryptocurrency bull market will enter full swing, and it will be time to shift investments from short-term US Treasury bills to crypto.
Macro concerns, including the increasing presence of war, are becoming more prominent in the market. Billionaire investor Ray Dalio recently stated that the odds of a “World War III” scenario developing are at 50%. He emphasizes the importance of restraint among world leaders and warns of the costs and risks associated with being drawn into wars.
Combined with the buzz surrounding the potential approval of an exchange-traded fund, Bitcoin has seen significant growth this month, with a 27% increase in October and over 100% year-to-date.
It is important to note that this article does not provide investment advice, and readers should conduct their own research before making any investment decisions.