In a recent interview on the podcast Alpha First, Arthur Hayes shared his bold predictions about the future of the cryptocurrency market. He believes that with the possible rise of the Trump administration, the loose monetary policy in the United States will lead to a depreciation of the dollar, thus driving up the prices of Bitcoin and other crypto assets. This article is sourced from an article written by Arthur Hayes, organized and translated by Wu Shuo Blockchain. (Background: Arthur Hayes' new perspective: Trump's administration will open the door to unlimited QE, Bitcoin is expected to reach 1 million dollars) (Background supplement: Arthur Hayes' lengthy article: China's 'epic-level money printing' will eventually lead hot money to Bitcoin) In the recent interview on the podcast Alpha First, Arthur Hayes shared his bold predictions about the future of the cryptocurrency market. He believes that with the possible rise of the Trump administration, the loose monetary policy in the United States will lead to a depreciation of the dollar, thereby pushing up the prices of Bitcoin and other crypto assets. He also discussed global inflation, the monetary policies of sovereign countries, and how to benefit from Bitcoin and memecoins (Memecoin) and other crypto assets. He emphasized that investors need to remain vigilant during a bull market, avoiding the oversight of market risks due to greed. In addition, he looked forward to future market trends and predicted that Bitcoin could reach a milestone of 250,000 dollars by 2025. Please note: The views of each guest do not represent the views of the platform, and the platform does not endorse any products or tokens. Readers are advised to strictly comply with local laws and regulations. Listen to the complete podcast (YouTube): https://www.youtube.com/watch?v=xONEXGRcBMU Trump's economic policy will lead to the depreciation of the dollar and benefit Bitcoin Dreamer: The election has just ended a few weeks, and there have been many changes in market prices. What can we expect in the next 12 months? Do you have any visions to share with us? What should we pay attention to in the entire cryptocurrency forecasting landscape? Arthur: From my perspective, the market's predictions are correct. They expect that Trump and his new cabinet members will print a large amount of money in the United States. One of their campaign agendas is to attract manufacturing and industrial companies back to the United States through a weak dollar policy. They will then inject a large amount of funds through bank credit, increasing the credit volume in the US economy to promote production and increase wage levels. All of this will lead to inflation. The ultimate losers are those who save dollars or hold government bonds. Those who hold assets with a fixed supply, such as Bitcoin, will perform exceptionally well. We are already seeing this trend, right? So, I have plotted some data comparing the total amount of US bank credit with Bitcoin's performance. Currently, Bitcoin is clearly leading. This indicates that if Trump comes to power, his plan is already very clear - weaken the dollar, stimulate the market with credit, get people back to work, and restore American production capacity. I believe he will execute this plan. Will Bitcoin reach 1 million dollars? Scott: There is a follow-up question about Trump. You once made a bold prediction that if Trump comes to power, Bitcoin would reach 1 million dollars. Do you still think everything will develop as expected? Are you still confident? Arthur: I am very confident, but I am not sure if it will happen in a short time. In fact, this trend started when Trump was elected president in 2016. At that time, he pushed for a trade war against China, and the Democrats and the Biden administration have continued this policy. So now, this confrontation has deeply penetrated American political culture. The United States has shifted most of its manufacturing and production capacity to China and Asia, where these countries gain a competitive advantage by weakening their currencies, which has affected American workers. Therefore, the United States must bring these industries back home. To achieve this goal, it is necessary to allocate trillions of dollars in credit to businesses so that they can profit domestically. Biden has already passed measures such as the CHIPS Act, infrastructure construction act, and the Green New Deal, all of which require substantial funding support. This trend will continue. Global economic policies will drive inflation up and benefit crypto assets. Dreamer: People in the crypto space are usually the most disruptive group. There are many things worth discussing around Trump. From a domestic perspective, your views make sense and have made many people feel optimistic. But if we look internationally, how will the election impact foreign policy, wars, and trade? For Asia, some policies may bring certain fears. Will these policies have a negative impact on the economy or cryptocurrencies? Or should we not worry too much? Arthur: I believe that essentially every country is now pursuing a 'national priority' policy. The United States has proposed 'America First,' while China hopes to bring prosperity back to rural or low-income people through the 'common prosperity' plan. Therefore, the Chinese government has suppressed the real estate bubble and is now stimulating the economy again through monetary easing policies. Japan is undergoing capital repatriation, which will boost its economy but also requires more credit to prevent bank bankruptcies. Europe, on the other hand, has cut off cheap energy from Russia and turned to importing expensive energy from the United States, leading to its own predicaments. But they still need to support businesses, so they will also implement stimulus policies. So every country is trying to take care of its own people, which means restoring local industries and increasing demand for goods. This trend will drive global inflation up, further suppressing the long-term outlook for bond yields. In such an environment, cryptocurrencies will perform well. Although the policies of various countries seem different, they are actually pursuing the same goal, which is to prioritize meeting the needs of their citizens. This requires an increase in internal credit allocation and an expansion of supply to support production and create job opportunities for people. This global trend is a huge benefit for Bitcoin and other crypto assets. Will the rise of Bitcoin drive other crypto assets? Dreamer: It seems that this is an excellent opportunity for cryptocurrencies, especially Bitcoin. But what about other cryptocurrencies? What do you think about whether they will be affected by Bitcoin's rise? Are you a Bitcoin maximalist, believing that only Bitcoin has prospects and that others will not follow? Or do you think other projects like Ethereum will have opportunities? For instance, NFT, memecoins, and DeFi, these trends have had their ups and downs. Will these also benefit from the market rise, or should the focus be mainly on institutional investors, believing that only Bitcoin will attract funds? Arthur: I actually do not pay much attention to the movements of institutional investors, because everyone always says they will enter the market, but they have their own complex investment logic and credit considerations, and there are reasons whether they buy or not. From the perspective of retail investors, when Bitcoin's price rises, everyone's most important asset is Bitcoin. When my wealth in Bitcoin increases, I do not want to return to fiat currency because it makes no sense, right? I will not only invest in Bitcoin. I want to invest in other crypto assets that have greater growth potential than Bitcoin. So what else can be done? We will pay attention to memecoins, new Layer 1 blockchains, Layer 2 projects, NFTs, and the gaming sector, etc. Bitcoin will lead the market, and then funds will gradually flow to other classes of assets. Because ultimately, the goal is to earn more cryptocurrencies, not to convert back to fiat currency...

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