- Arthur Hayes says he isn’t optimistic about this yr’s BTC value.
- Hayes factors to the potential of catastrophe following the ever-higher value of BTC affecting different cryptocurrencies.
- The American entrepreneur additionally believes that the present monetary dilemma might trigger waves available in the market.
American entrepreneur and former CEO of crypto trade BitMEX Arthur Hayes has predicted the bullish pattern of the biggest cryptocurrency by market capitalization Bitcoin (BTC) within the coming years, though he isn’t optimistic for 2023.
In a podcast on the YouTube channel “What Bitcoin Did”, the entrepreneur stated that the excessive expectations for the worth of BTC won’t grow to be fruitful this yr, however solely in 2024 and 2025. He stated:
I do not assume we’ll hit $70,000 this yr, I feel subsequent yr is once we break by way of that barrier, then we get to the highest (2025), (2026) after which it is Armageddon.
Explaining the usage of the time period Armageddon, which accurately means catastrophic battle, Hayes stated he expects societal change, or main warfare, on account of two elements, together with quantitative easing and social unrest. He added that such a battle would result in additional declines in inventory and cryptocurrency costs.
When the host raised questions concerning the present US debt ceiling and its impression on the crypto market, Hayes stated it might be resolved as traditional. Moreover, he identified that the present monetary dilemma might trigger waves available in the market, including:
With the banking disaster, and the federal authorities issuing billions of {dollars} of debt as a result of it must fund itself, you are organising this powder keg of a scenario that is going to explode within the third or fourth quarter of this yr .
Nonetheless, he identified that the catastrophic circumstances would finally be “good for Bitcoin,” including that the cryptocurrency may very well be “fairly unstable each up and down.” In March 2023, Hayes predicted that Bitcoin would hit $1 million, following the US Treasury Division’s announcement of a low worth debt buyback operation.
