According to BitMEX’s Former CEO, Bitcoin Price Could Soon Initiate a Massive Rally!

  • Arthur Hayes, the former CEO of the cryptocurrency exchange BitMEX, believes that Bitcoin is signaling explosive growth in the future.
  • Hayes thinks that if long-term US Treasury bonds fail to provide investors with security, they will start looking for alternatives.
  • At the beginning of the week, the price of Bitcoin reached the highest level in a year and a half. On the night of October 24, it surpassed $35,000 for the first time since May 2022.

Arthur Hayes, the former CEO of BitMEX, anticipates that the recent Bitcoin rally will continue: The US could be a significant factor!

Hayes Expects Further Upside for Bitcoin

Bitcoin-BTC

Arthur Hayes, the former CEO of the cryptocurrency exchange BitMEX, believes that Bitcoin is signaling explosive growth in the future. According to Hayes in a blog post, the United States is increasingly investing in two new wars while the risk of global conflict escalating is rising.

The US Federal Reserve is grappling with ongoing inflation but has taken a break from raising interest rates, which suggests an impending strengthening of the economy, a so-called bearish trend. Hayes stated:

“The structural risk mitigation needs of banks and the borrowing needs of the US war machine feed each other in the US Treasury market.”

Hayes believes that if long-term US Treasury bonds fail to provide investors with security, they will start looking for alternatives. He added that gold and, more importantly, Bitcoin (BTC) will rise due to increasing global inflation fears during times of war. Hayes continued:

“When everyone realizes the game we’re playing, the Bitcoin and crypto bull market will continue at full speed.”

Bitcoin price reached a critical turning point

At the beginning of the week, the price of Bitcoin reached the highest level in a year and a half. On the night of October 24, it surpassed $35,000 for the first time since May 2022. Following this, shares of companies related to cryptocurrency began to gain value.

Experts mention that expectations for the creation of a Bitcoin ETF in the United States and the likelihood of escalating conflicts in the Middle East are impacting the crypto market. Additionally, Charles Yu, an employee of Galaxy Digital, predicts that the spot Bitcoin ETF market will reach a market value of $14.4 trillion within the first year after its launch.

BREAKING NEWS

Ethereum Whale Trims 25x ETH Short to $24.87M with Opening Price $3,299.86 and Liquidation at $3,394.77

COINOTAG News, on November 5, citing HyperInsight, reports that...

Bitcoin Drops Below $100K as Long-Term Holders Sell 400,000 BTC ($45B)

COINOTAG News, November 5, citing Bloomberg, reports that Bitcoin...

ETH Whale Boosts 25x Leverage on $37.67M Short Position, Entry at $3,300 and Liquidation at $3,355

COINOTAG News, citing Ember Monitor, notes that a high-profile...

DWF Labs Suffers $44 Million Loss After 2022 Network Attack, BlockBeats Reports

COINOTAG News, on November 5, citing Yahoo Finance, reported...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img