Arthur Hayes, a former CEO of BitMEX, has reaffirmed his forecast that Bitcoin (BTC) will be worth $1 million, citing China's recent reduction in the reserve requirement ratio (RRR) as a factor that will increase the cryptocurrency's value. According to a prior prediction by Hayes, Bitcoin will hit $1 million by 2030 due to the "HODL culture," in which consumers steadfastly refuse to sell their holdings in expectation of a big price increase.