Bitcoin’s price will reach $1 million, Arthur Hayes

Bitcoin’s price will reach $1 million, Arthur Hayes

Bitcoin has been trading around the $40k region for a few months now, but its long-term prediction remains positive.

By the end of this decade, according to former derivatives exchange BitMEX CEO Arthur Hayes, Bitcoin will have reached $1 million.

In the blog post, Hayes cites Bitcoin’s limited supply as one of the main reasons. He believes the cryptocurrency’s price will continue to rise in the future.

He also notes that Bitcoin has already seen a significant price increase in recent years, and he believes that this trend will continue.

According to the article, Bitcoin’s value will hit $1 million by 2028 as a result of Europe’s and the United States’ ongoing economic difficulties.

While some may view Hayes’ prediction as optimistic. It’s important to remember that Bitcoin has already seen a significant price increase in recent years.

If Bitcoin continues to rise at the same rate. It is not out of the realm of possibility that it could reach $1 million by the end of the decade.

According to the former BitMEX CEO, excluding Russia would be a serious blunder; given that it is a crucial element in today’s worldwide economic order.

Hayes says that Germany could not compete with China’s exporting strength. While simultaneously experiencing rising prices, which would cause conflict within the EU. He states;

“The ECB is imprisoned; the EU is done for; and within a decade, we will be trading Deutschmarks, Lira, Drachmas, again. As the union dissolves, cash will be printed in profusion in a range of local currencies.

The dollar is valued at a fraction of its previous worth. Hyperinflation is not entirely out of the question. And, as European savers begin to taste what’s cooking, they will flock to hard assets like gold and bitcoin. The break-up of the EU = $1 million Bitcoin.”

According to Hayes, the doom loop in West financial policy, especially the yield curve control (YCC); would accelerate Bitcoin’s rise toward $1 million within a few years. He adds;

“The Doom Circle will bring $1 million Bitcoin and $10,000 — $20,000 gold by the close of the decade. We must advocate for beneficient flags to safeguard a portion of their existing account excess in Bitcoin so that Bitcoin farm-to-table economies develop across the world. Unlike gold, Bitcoin has to continue its move, if not the network will disintegrate.”

“YCC is the new normal. The US Fed has joined the BOJ and ECB in yield curve control. This means asset purchases will continue until something changes, or they go broke trying.

Bitcoin capitalizes on this by being the hardest money the world has ever seen. When people lose faith in fiat, they will flock to Bitcoin.”

While Hayes’ Bitcoin price predictions are certainly optimistic. It’s important to remember that cryptocurrency prices are highly volatile and can swing up or down by large amounts in a relatively short period.

So, while a $1 million Bitcoin might seem like a long shot, stranger things have happened in the world of cryptocurrency.

Bitcoin is down by more than 40% from its all-time high of $69,000 set in November 2021. Although market experts predict that it will emerge from this bearish trend and establish a new all-time high over the next several months or years,

Satoshi Nakamoto, or a group of individuals using that name, invented Bitcoin (BTC) in 2008. It’s a decentralized digital currency without any regulatory or administrative control. It functions on a peer-to-peer bitcoin network without the need for third-party intervention.

Bitcoin can be bought and sold on exchanges and used to purchase goods and services.

Given Hayes’s postulations, do agree with him. It will be nice to know what you think.

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