Arthur Hayes Predicts Bitcoin Bull Market Amidst Worsening US Economy

Jun 5, 2023

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Hayes predicts that the US economy’s struggle to curb inflation will boost investors’ interest in Bitcoin.

Ups and Downs

Arthur Hayes, former CEO of Bitmex, has made a prediction about the upcoming bitcoin bull market. He that in the last two quarters of 2023, the value of bitcoin will rise significantly. Hayes explains that investors need to be patient and states that the US Federal Reserve will struggle to control inflation due to sanctions, leading to a decline in foreign investment in US debt.

The Fed and Treasury are using interest income paid on various facilities and debt as a new form of money printer go brrr!. ain’t going down, the bull market is forming right now. “Patience Is Beautiful” explains the why and how.

— Arthur Hayes (@CryptoHayes)

Bitcoin Bull Market Prediction

Hayes, an economic analyst and former Bitmex CEO, has changed his previous advice about crypto investments. In his article titled “Patience is Beautiful,” he now believes that a bitcoin bull market is on the horizon. He acknowledges that the global economy’s destination is clear, although the path may be altered by external factors.

Catalysts for the Bull Market

Hayes identifies several factors that will contribute to the upcoming bitcoin bull market. He mentions the inflation numbers, which he considers misleading, and predicts an increase in interest rates as foreign investors lose interest in US debt. He expects the US Federal Reserve to struggle in achieving its 2% inflation target, leading to further rate hikes to combat core inflation. Hayes also foresees a shift in deposits from smaller banks to larger “too big to fail” banks and money market funds.

Foreign investors may be deterred from investing in US debt due to the fear of economic sanctions, similar to those imposed on Russia. Hayes argues that property rights are dependent on political alliances, making foreign holders uncertain about accessing their wealth when needed. Lastly, he believes that as central banks increase money supply, the value of bitcoin will rise.

President Joe Biden signed a bill that suspends the US government’s $31.4 trillion debt ceiling, averting what would have been a first-ever default

— Reuters (@Reuters)

Hayes’ Insights and Bitcoin’s Future

In a recent blog post, Hayes emphasizes the importance of patience and strategic decision-making in the cryptocurrency market. He aligns his outlook with other experts who anticipate a bullish turn for bitcoin. However, Hayes urges caution and careful analysis of market dynamics, including sentiment, trading volumes, and institutional involvement.

is the best money that humanity has ever had.

— Bitcoin Magazine (@BitcoinMagazine)

The cryptocurrency market has witnessed substantial growth and acceptance by institutions and major corporations. This increasing interest, combined with retail investor participation, could contribute to the anticipated bull market. Nevertheless, individuals should approach market predictions with caution and conduct thorough research, considering their own risk tolerance.

Conclusion

Arthur Hayes, former Bitmex CEO, predicts a bitcoin bull market in the last two quarters of 2023. He attributes this prediction to the worsening state of the US economy and the inability of the US Federal Reserve to control inflation. He advises investors to be patient and highlights the importance of careful observation and analysis in navigating the cryptocurrency market. While market predictions should be approached with caution, Hayes’ insights offer valuable perspectives for market participants seeking to make informed investment decisions.

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