The American entrepreneur and former CEO of the crypto exchange BitMEX Arthur Hayes predicted the bullish tendency of the largest cryptocurrency by market cap Bitcoin (BTC) in the following years, though he is not bullish about 2023.
In a podcast on the YouTube channel “What Bitcoin Did,” the entrepreneur commented that the high expectations for BTC price wouldn’t turn fruitful this year, but only in 2024 and 2025. He stated:
Explaining the use of the term Armageddon, which literally stands for a catastrophic conflict, Hayes said that he expects a societal change or a major war, as a result of two factors including quantitative easing and social discontent. He added that such a conflict would lead to a further decline in the prices of equities and cryptocurrencies.
When the host raised questions on the prevailing US debt ceiling and its impact on the crypto market, Hayes commented that it would be resolved as usual. Further, he pointed out that the current financial dilemma could cause waves in the market, adding:
However, he stressed that the catastrophic conditions would ultimately be “good for Bitcoin,” adding that the cryptocurrency could be “quite volatile on the up and the downside.” In March 2023, Hayes predicted that Bitcoin would reach $1 million, following the US Treasury Department’s announcement on a small-value debt buyback transaction.
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Source: Cryptocurrency - investing.com
