Prepared for a surge: Bitcoin, according to Arthur Hayes, is well-positioned due to the Federal Reserve's actions.
The LowdownBitcoin billionaire and crypto queenpin Arthur Hayes is calling for BTC to reach astronomical heights, soaring to $150,000 this year before altcoins follow suit.
Speaking at the recent Token2049 conference in Dubai, the former BitMEX boss shared her predictions for the crypto market's future, attributing the potential rally to ongoing money printing by the Federal Reserve.
Investors can expect continued inflation as central banks continue to flood the market with cash, which Bitcoin has historically performed well under.
Hayes foresees a similar scenario to the third quarter of 2022, where fears, uncertainties, and doubts (or FUD) in the markets prompt monetary authorities to resort to more cash printing.
As Bitcoin is frequently cited as a hedge against the excessive money creation policies of central banks, this shift in macroeconomic conditions could bolster the digital asset's value.
Investors holding onto the world's most valuable cryptocurrency can breathe a sigh of relief, as Bitcoin was trading at $96,230 on March 14, stirring a 1.5% increase over the past day, according to CoinGecko data.
The recent approval of spot Bitcoin ETFs (exchange-traded funds) has sparked renewed interest in the crypto space, as ordinary investors can now access Bitcoin via their brokerage accounts.
Hayes also suggested that Ethereum and Solana would rally after Bitcoin, once the bitcoin price rises this year. However, it's worth noting that Hayes has previously described her short-term market prediction accuracy as less than stellar, so investor discretion is advised.
Circling back to Bitcoin's price trajectory, Hayes has made several bold predictions, including reaching six-figure figures by the near term and potentially hitting $1 million or more by 2028-2029. Although these numbers seem outlandish to some, the overall outlook remains bullish for Bitcoin, driven by macroeconomic forces that favor scarce digital assets during periods of inflation and currency devaluation.
Article Tailored by Andrew Hayward
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- Arthur Hayes, Bitcoin billionaire and crypto queenpin, believes Ethereum and other altcoins might follow Bitcoin's lead, reaching $150,000 this year.
- Speaking at the Token2049 conference, Hayes predicted that ongoing money printing by the Federal Reserve could result in continued inflation, which might bolster Bitcoin's value.
- According to Hayes, Bitcoin's potential rally can be attributed to its role as a hedge against excessive money creation policies of central banks.
- In a similar scenario to Q3 2022, Hayes foresees FUD in the markets prompting monetary authorities to print more cash, benefiting Bitcoin.
- Investors holding Bitcoin can take solace in the fact that it was trading at $96,230 on March 14, showing a 1.5% increase over the past day.
- The recent approval of spot Bitcoin ETFs has re-ignited interest in the crypto space, allowing ordinary investors to access Bitcoin via their brokerage accounts.
- Although Hayes's short-term market predictions have been less accurate in the past, she suggested that once Bitcoin rises this year, Ethereum and Solana might also rally, reinforcing the bullish outlook for cryptocurrency and decentralized finance technology.
