Arthur Hayes: ‘Macro liquidity surge’ keeps $1M Bitcoin price possibility alive

Arthur Hayes, former CEO of BitMEX, believes that Bitcoin and cryptocurrency investors will have a great opportunity to buy the dip in the coming months. In his recent blog post titled “Left Curve,” Hayes predicted that the crypto bull market would continue. According to Hayes, the recent block subsidy halving of Bitcoin has resulted in booming crypto markets compared to fiat currencies. He believes that this is not a coincidence, as governments worldwide will continue to print money to manage their debt burdens, causing their currencies to lose value against Bitcoin and altcoins. Hayes also mentioned that regardless of who wins the U.S. presidential election in 2024, the printing of money will accelerate. He advises crypto traders to be prepared for fiat devaluation by buying the dip, as it could ignite a rampant crypto bull market. Hayes concludes by stating that the next few months will present a golden opportunity for investors to add to their positions. In terms of Bitcoin’s price, Hayes suggests that the path from $70,000 to $1 million may not be as difficult as its history rising from zero. He acknowledges that the market dynamics may be different this time. While Hayes didn’t provide an updated BTC price target, his analysis suggests that the road to $1 million remains possible. It is important to note that this article does not provide investment advice or recommendations, and readers should conduct their own research before making any investment decisions.