In an Impact Theory podcast, Arthur Hayes discussed his theory on the upcoming Bitcoin bull market. He believes that BTC will stay sideways between $25,000 to $30,000 in 2023. And then, some financial disturbance will cause the interest rates to again go to zero in 2024.
The decreasing interest rate, crypto halving event, and the launch of spot Bitcoin ETFs would push Bitcoin to $70,000 by the end of 2024. Arthur Hayes said:
“That’s when the real fun starts. That’s when the real bull market starts.”
For 2026, he further elaborated:
“I think we are going to go somewhere between $750,000 to $1 million in Bitcoin by 2026. Just because again I believe this is going to be the largest bull market in financial assets we have ever seen in the human history.
Not only will Bitcoin be at a ridiculous price, NASDAQ will be at a ridiculous price, S&P will be at a ridiculous price, pick your stock indices wherever you are, that will be at a ridiculous price.”
In 2023, the Fed interest rates are around their 22-year high. Of course, the market has a liquidity crunch due to the soaring interest rates. However, Hayes believes that the central banks will start decreasing the interest rates and restart the quantitative easing, igniting a bull market.
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