Investment Opportunity with Bitcoin and Alternative Coins: Arthur Hayes' Recommendation
Rewritten Article:
Bitcoin (BTC) aficionados just got a ballsy endorsement from one of the crypto community's most rebellious personalities.
At the ongoing Token2049 conference in Dubai, BitMEX co-founder Arthur Hayes reaffirmed his gutsy prediction that Bitcoin will hit six figures by 2028.
A Wild Bet
The Maelstrom CIO told a raucous crowd, "It's time to move that money around!" He urged them to hop on the Bitcoin bandwagon and also invest in other stablecoins and traditional markets, too. For him, this isn't just a financial strategy; it's a macro-economic certainty waiting to happen.
His gumption stems from a mixed drink of monetary policy twists and economic chaos in the United States. The crypto investor envisions the Federal Reserve revisiting its monetary printing presses due to fiscal deficits, protectionist trade wars, and ailing bond markets that could fuel BTC's rise.
He sees a familiar recurring pattern taking shape today, much like Q3 of 2022, a time riddled with fear. Back then, headlines were dominated by high-interest-rate hikes from the Fed and collapses within the crypto sector, including the implosion of FTX. However, the government's sneaky infusion of $2.5 trillion into the repo market helped keep the flames of risk assets alive, including cryptocurrencies.
Hayes sees a similar situation brewing, especially with former President Donald Trump's push for steep tariffs on U.S. trade allies. The move initially sent shockwaves through the market but was soon met with a much-needed three-month reprieve before bouncing back slightly. In Hayes' view, Trump's America First policy will ignite a monetary torrent.
His sentiments echo concerns that the U.S. central bank, despite its tough talk, might eventually be forced to step in and support Treasury markets indirectly through tactics like halting quantitative tightening or reducing bank reserve requirements.
"The Fed and banking system must step up to ensure a functioning Treasury market," he joked on a recent post, referencing the viral meme synonymous with excessive money printing.
Should these projections pan out, Hayes expects Bitcoin to act much like it has before, with a parabolic surge.
Bullish Bitcoin Trends
While Hayes' vision sets the stage for the narrative, Bitcoin's recent price action supplies the kindling. At the time of writing, BTC was trading at $94,569, losing 0.4% over the last 24 hours.
Over the past seven days, the uptrend has been minimal at around 1%, but the broader trend is more pronounced across longer timeframes. With a 13.0% increase in the past two weeks and a 15.4% rise over the past month, Bitcoin shows signs of robustness even in the face of macroeconomic uncertainties.
Year-to-date, Bitcoin has gained 49.2%, signaling a long-term bullish course, regardless of macro headwinds.
Binance: Get $600 Free Sign-Up Bonus with our Exclusive Link: [Sign Up Now]: Claim your $600 welcome bonus by clicking this link** and registration a new account.
Limited-Time Offer for Our Readers at Bybit: Sign Up and Trade for Free! Join Bybit and start trading with $500 in virtual assets – No deposit required!: Sign Up Now!
Altcoins Arthur Hayes Bitcoin Facebook Twitter LinkedIn Telegram
- Arthur Hayes, the co-founder of BitMEX, boldly reiterated his prediction at the Token2049 conference in Dubai, suggesting Bitcoin could reach $100,000 by 2028.
- Hayes encouraged the audience to consider Bitcoin and other stablecoins, as well as traditional markets, for investment, citing a macro-economic shift as his rationale.
- His confidence in Bitcoin's rise stems from economic instability in the United States, predicting that the Federal Reserve may reactivate its monetary printing presses due to large fiscal deficits and ailing bond markets.
- Hayes believes that the unfolding situation, reminiscent of Q3 2022, characterized by economic uncertainty and crypto sector instability, may again ignite the flames of risk assets, including cryptocurrencies.
- With Trump's America First policy potentially stirring up protectionist trade wars, Hayes expects a monetary torrent to ensue, underpinning Bitcoin's meteoric rise.
- In a recent post, Hayes humorously suggested that the Fed and banking system would need to intervene to ensure a functioning Treasury market, referencing the viral meme associated with excessive money printing.
- With Bitcoin trading at $94,569, showing signs of resilience even amidst macroeconomic uncertainties, and a year-to-date gain of 49.2%, the stage is set for a long-term bullish trend in the world of cryptocurrency.
