Summary:
Arthur Hayes predicts Bitcoin could reach $1 million by the end of the current market cycle.
The forecast is driven by a massive expansion of monetary supply from global governments.
Hayes believes we are in a transition period for the financial system.
Bitcoin is currently trading at $94,244, down 1.8% in the last 24 hours.
Despite some altcoins falling, the overall crypto market cap has increased over the past year.
Arthur Hayes' Bold Prediction
BitMEX co-founder Arthur Hayes is making waves with his prediction that Bitcoin (BTC) could skyrocket to $1 million by the end of the current market cycle. In a recent interview with Anna Tutova, CEO of Coinstelegram, Hayes elaborated on his forecast, attributing it to a massive expansion of monetary supply by governments worldwide.
The Inflationary Catalyst
Hayes stated, "I believe we can get to $1 million end of the cycle because the amount of money that’s going to be printed is going to be absolutely insane. Every government around the world is doing the same thing to boost public morale as global growth slows."
Furthermore, he emphasized that we are in a critical transition period for the global financial system, suggesting that
- Elites will resist this change by printing unprecedented amounts of money, fearing the end of the post-World War II US hegemony.
Current Market Status
As of now, Bitcoin is trading at $94,244, reflecting a 1.8% decline in the last 24 hours. When asked about the longevity of the current bull market, Hayes estimated it could last until 2026 or 2027, although he acknowledged the uncertainty.
Despite the plummet of some altcoins, he reassured that the overall crypto market cap has increased compared to more than a year ago, indicating that the bull market trend remains intact. “The aggregate value of all of crypto has still increased over the last 12 to 18 months, so I believe we’re still in a bull market,” he stated.
Watch the Full Interview
For those interested in more details, you can watch the full interview here.
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