Arthur Hayes once again shared his Bitcoin price prediction on behalf of new facts for the next 3 years.
Arthur Hayes is a popular American crypto entrepreneur and he is mainly known for his Bitcoin exchange BitMex, co-founded in 2014 with the help of Ben Delo & Samuel Reed. In 2022 he also faced 6 months of home detention & two years of probation and also he paid a $10 million fine, for violating the United States Bank Secrecy Act.
In the latest Bitcoin prediction, the BitMex Co-founder said that Bitcoin will hit $750,000 to up to $1 million by 2026. To support this prediction, he shared several facts that can act as a catalyst to pump Bitcoin trade prices easily.
The first thing that Arthur noted was the global economic downturn, mainly the situation in the US (increasing inflation & US debt pressure every month), and the Bitcoin halving event of Bitcoin. According to him, it will help Bitcoin to hit $70,000 by the end of this year.
According to Arthur, the actual bull run will start with the start of the launch of the Bitcoin spot ETF products by fund managers across the world. Indirectly he hinted that 2024 will welcome huge numbers of dominant Bitcoin spot ETF products in the US, as the United States Securities and Exchange Commission (SEC) was ordered by the court that its decision to reject Grayscale’s Bitcoin spot ETF application was wrong because Bitcoin spot ETF & Bitcoin futures ETFs were similar products.
The BitMex Co-founder also claimed that other traditional financial assets on Nasdaq & S&P will achieve new all-time high records.
Arthur dragged his discussion toward China and said that people think China banned crypto fully but it is not true because China only kicked out crypto companies & crypto-related operations from the country to keep citizens away from crypto trading but in reality the Chinese citizens are still holding Bitcoin against the country’s crypto ban measures.
Furthermore, Arthur appreciated the role of the Hong Kong government and said that the blockchain & crypto sector will pivot around Hong Kong’s jurisdiction in the future.
Hong Kong is a special administrative region of China but it has its own laws, flag, & country-like separated rules for the citizens. In China crypto is banned but Hong Kong adopted the Cryptocurrency sector against China’s crypto ban measures. Reportedly people from Mainland China visit Hong Kong to trade crypto assets on behalf of their known crypto traders as a middleman and the bitter reality for China is that no one can prohibit them.