According to Arthur Hayes, the founder and former CEO of BitMEX, governments and central banks around the world are creating scenarios that necessitate the "continuous printing of money." Hayes states that a bull market in #cryptocurrencies has just started, with 2024 expected to be full of fluctuations. This is mainly due to the traditional financial sector beginning to fully accept #Bitcoin , especially through newly launched exchange-traded funds (ETFs).
Unstable Year 2024
Hayes predicts that 2024 will be a turbulent year for the cryptocurrency market, particularly in terms of price development. He warns market participants not to panic over Bitcoin price movements following the launch of ETFs. He explains that the situation is influenced by central bankers and governments, which are setting the stage for further economic stimuli.
Inflation and ETF Markets
Hayes anticipates that ETF markets will thrive only if inflation persists. This inflation results from the restructuring of the global economic and military order post-World War II. War, as such, leads to inflation, creating opportunities for arbitrage in ETF markets.
Arthur Hayes
Start of the Bull Market
Hayes emphasizes that the bull market is just beginning. He reminds that the "financialization" of Bitcoin and its integration into the traditional financial sector will lead to a medium-term increase in its price. He highlights that this phase is just starting and predicts a significant rise in the price of Bitcoin.
Arthur Hayes' Strategy
Finally, Hayes reveals that he has decided to wait until mid-March before adding any more risk to his portfolio. The reason is the anticipation of the Federal Reserve System's (Fed) decision on interest rates and the approaching halving of Bitcoin mining rewards. This strategy aims to minimize risks and take advantage of opportunities that upcoming economic and market events may offer. Hayes thus indicates that key changes can be expected in the coming months, which will significantly impact the cryptocurrency market.
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