Arthur Hayes, the founder of BitMEX, predicts that Bitcoin could reach a significant value before the current Market cycle ends. In a recent interview, he suggested that Bitcoin might surge to notable figures like $250,000 or even $1 million, driven by an increase in the money supply. Hayes believes that Bitcoin’s price movements are now influenced more by fiat liquidity rather than its traditional four-year halving cycle. He sees Bitcoin as a key indicator of fiat liquidity in today’s financial landscape, a role that gold once held. As of now, Bitcoin is trading at $84,152, down 3.7% in the last day.
BitMEX Founder Predicts Bitcoin to Hit New Heights
In a recent interview, Arthur Hayes, the founder of BitMEX, shared his insights on the future of Bitcoin (BTC). He believes that Bitcoin is on track to reach an impressive value before this Market cycle peaks. Hayes anticipates that Bitcoin will experience a series of rallies driven by an increase in the supply of money circulating in the markets.
Hayes suggests that Bitcoin could hit a “numerically interesting number” as the Market evolves, mentioning potential milestones like $250,000 or even $1 million per Bitcoin. He emphasized that these levels are psychologically significant for investors. As the pace of fiat money creation accelerates, he hinted that it might be a good time for investors to think about selling their holdings.
Transitioning Beyond Halving Cycles
He also discussed how Bitcoin’s price movements are no longer solely influenced by its halving cycle, which traditionally cut miners’ rewards in half every four years. According to Hayes, the growing recognition of Bitcoin as a legitimate asset class means that its valuation is increasingly tied to the liquidity available in the wider financial Market rather than just its supply dynamics.
In his view, Bitcoin has taken on a new role, akin to a “smoke alarm” for fiat liquidity, contrasting it with gold, which previously held that position. With continuous access to Bitcoin’s Market, Hayes believes that its price is heavily influenced by the availability of fiat money rather than just traditional supply-demand factors.
Current Market Status
As of now, Bitcoin is trading at $84,152, reflecting a 3.7% drop in the last 24 hours. Given the current climate of monetary expansion, many are eager to see if Hayes’ predictions come to fruition.
To stay updated on the latest in cryptocurrency, be sure to follow our channels on X, Facebook, and Telegram. And don’t miss out—subscribe for email alerts to get the latest news right in your inbox!
Featured Image: Shutterstock/TadashiArt/Natalia Siiatovskaia.
Disclaimer: The views expressed in this blog are not investment advice. Always conduct thorough research before making any investment decisions.
What did Arthur Hayes say about Bitcoin?
Arthur Hayes believes that Bitcoin is ready to reach a “numerically interesting number,” meaning it could hit a significant price point soon.
Why does Hayes think Bitcoin will rise?
Hayes thinks Bitcoin could skyrocket due to increasing interest and demand, alongside favorable Market conditions.
What does “numerically interesting number” mean?
A “numerically interesting number” refers to a price point that traders and investors find appealing or psychologically important, which could lead to more buying activity.
When might this price surge happen?
Hayes suggests that this surge could occur before the overall Market reaches its peak, so it could happen relatively soon.
Should I invest in Bitcoin now?
Investing involves risks. While Hayes sees potential in Bitcoin, it’s important to do your own research and consider your own financial situation before investing.