BitMEX co-founder and macro-analyst Arthur Hayes recently predicted that Bitcoin’s price will soar between $750,000 and $1,000,000 per coin within roughly 3 years. His prediction, which is far more bullish than that of most analysts, rests on a macroeconomic thesis that all financial assets are due for an unprecedented boom.
Hayes claimed that Bitcoin will continue to trade sideways near $25,000 to $30,000 this year, before rising beyond its previous all-time high of $69,000 by the end of 2024. Next year’s gains will be fueled by a growing economy that renders real-interest rates negative, incentivizing investors to continue looking for yield in more risky areas of the economy, such as crypto.
Other bullish factors include Bitcoin’s upcoming halving event in April, and the potential launch of more spot Bitcoin ETFs by large asset managers – including BlackRock in the United States. According to Hayes, that’s when the “real fun starts.”
Hayes claimed that Bitcoin will continue to trade sideways near $25,000 to $30,000 this year, before rising beyond its previous all-time high of $69,000 by the end of 2024. Next year’s gains will be fueled by a growing economy that renders real-interest rates negative, incentivizing investors to continue looking for yield in more risky areas of the economy, such as crypto.
Other bullish factors include Bitcoin’s upcoming halving event in April, and the potential launch of more spot Bitcoin ETFs by large asset managers – including BlackRock in the United States. According to Hayes, that’s when the “real fun starts.”