Bitcoin and Altcoin Purchase Advocated by Arthur Hayes
Firing Up the Bitcoin Bull Run: Arthur Hayes' $1M Prediction for 2028
Arthur Hayes, the badass co-founder of BitMEX, has dropped a bombshell prediction at the Token2049 conference in Dubai - by the year 2028, Bitcoin could fly high and reach a staggering $1 million! And yeah, he ain't just talkin' about wishful thinking.
According to Hayes, shake-ups in monetary policies are gonna open up a treasure chest of opportunities for investors. That's why he recommends long-term positions not just on Bitcoin, but on stablecoins and traditional financial assets too. He sees it as more than just a sound investment strategy, it's an economic necessity.
So, what's the tea? Hayes is banking on the growing U.S. budget deficit, trading policies, and hoopla in the bond market. He reckons these factors will make the Federal Reserve go haywire, resorting to the old trick of printing money.
Deja vu? Maybe…
Hayes was reminiscing about the third quarter of 2022 and recounted the times when the fed had raised interest rates and brought down big crypto companies like FTX, even with a $2.5 trillion intervention in the repo market to keep risky assets stable. And guess what? He ain't ruling out a similar ride again.
Trump's Tariffs and the Moon Mission for Bitcoin
Back in the day, Hayes had predicted that former President Trump's new trade tariffs could stir up the market like a hornet's nest, resulting in central banks pumping liquidity. Hear him out: "The Fed and the banking system will come to the rescue, which means more money printing." If that happens, get ready for Bitcoin to blast off, following a trend seen in previous cycles.
As of now, Bitcoin's trading at $94,569. Over the past 24 hours, BTC has slipped by 0.4%, in the last 7 days by 1%, in the last 14 days by 13%, and in the last 30 days by 15.4%. But remember, it's been up by a whopping 49.2% year-on-year!
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[Sources: 1, 2, 5, Reuters, Investopedia, Cointelegraph]
According to expert analysis, Hayes' prediction is rooted in a few key factors that could drive Bitcoin prices skyward:
- Aggressive Monetary Policy: The U.S. government is likely to inject liquidity into the system by means of quantitative easing or "money printing," which could fuel Bitcoin's growth.
- Institutional Interest: With more institutional players eyeing Bitcoin as a long-term investment, increased demand could significantly push up the digital currency's price.
- Economic Pressure and Liquidity Measures: On account of growing economic pressure, the U.S. may need to implement policies to boost liquidity, which could lead to the breakout of Bitcoin and other digital assets to new highs.
- Bitcoin Halving Cycle: While not explicitly mentioned in this context, the Bitcoin halving, a four-year event that halves the new supply of Bitcoin, has historically been a catalyst for price increases.
Compared to his initial prediction of $1 million, Hayes has even thrown out a higher target of $1.5 million by 2028, implying the potential impact of U.S. economic policies on the growth of digital assets.
- Arthur Hayes, the co-founder of BitMEX, predicts that Bitcoin could reach an unparalleled $1 million by the year 2028.
- Hayes believes that shake-ups in monetary policies will present numerous investment opportunities, not limited to Bitcoin, but also stablecoins and traditional financial assets.
- Reminiscing about 2022, Hayes recalled the Fed's intervention in the repo market to stabilize risky assets like FTX, and even anticipates a similar scenario in the future.
- In the past, Hayes predicted that Trump's trade tariffs would stir up the market, leading to liquidity pumping and potentially a Bitcoin price surge, following the trend of previous cycles.
