BitMEX co-founder and macro analyst Arthur Hayes recently predicted that #Bitcoin price will skyrocket to around $750,000-$1,000,000 within about 3 years.
His prediction, much more optimistic than that of most analysts, is based on the macroeconomic thesis that all financial assets are primed for an unprecedented boom.
Biggest bull market ever
In an interview with Impact Theory published on Tuesday, Hayes stated that Bitcoin will continue to trade sideways near $25,000 to $30,000 this year, before surpassing its previous all-time high of 69,000 USD by the end of 2024.
Next year's gains will be driven by a growing economy that turns real interest rates negative, encouraging investors to continue looking for returns in riskier sectors of the economy, such as currencies electronic.
Other bullish factors include Bitcoin's upcoming halving in April and the likely launch of more Bitcoin spot ETFs by major asset managers - including BlackRock in the US.
According to Hayes, that's when "the party really starts."
“My upside target is $750,000 to $1,000,000, 2026 time frame. I believe this will be the largest bull market in financial assets we have ever seen in human history.”
His prediction applies not only to Bitcoin, but Nasdaq, S&P500, other stock indexes and many different forms of assets will also skyrocket.
“We have a lot of ridiculous prices coming, not just in crypto.”
AI investment boom
Hayes also predicts that governments will print more money than they have ever printed in human history to exert yield curve control to keep the global bond market from collapsing. This money printing will be combined with the latest wave of artificial intelligence (AI) hype to create “the biggest tech boom we have ever seen.”
An advocate of both AI and cryptocurrency, Hayes has previously written essays arguing that AI would choose BTC as its native currency due to the need for decentralized money to conduct its day-to-day operations.
Hayes plans to deploy more capital into both areas after the Federal Reserve introduces a lower interest rate policy.
“I don't try to calculate when that will happen,” he said. “They will be very clear about what they are doing, and the question is whether you believe them or not.”
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