Cryptocurrency billionaire says Bitcoin will reach R$5 million in next bull market

During a nearly three-hour conversation on Tom Bilyeu’s channel, BitMEX founder Arthur Hayes revealed his next goals for Bitcoin. Commenting again on his thesis on US interest rates, the billionaire pointed out that bitcoin could reach $750,000 and $1 million by 2026.

Hayes does not believe in large increases for the last quarter of 2023. In other words, Bitcoin’s value will be between 20 and 30 thousand dollars, a range it has been in since the beginning of this year. Even optimistic, the billionaire also revealed a catastrophic scenario that could lead Bitcoin to another historic 90% decline.

Known for his long texts about the financial market, the billionaire did not mince his words during the conversation. In addition to talking about Bitcoin, Hayes also commented on other global economic aspects.

‘If printing money produced real growth, Rome would have survived. Zimbabwe is said to be the richest country in the world, the same goes for Argentina”Hayes noted about inflation, also thinking of the Weimar Republic in Germany. “Other societies have tried this, and the result has always been the same.”

The Founder of BitMEX Reveals His Predictions for Bitcoin

Arthur Hayes predicts a major global crisis, worse than the Great Depression of 1929, and reveals that Bitcoin and stocks will see a major rally before this widespread crash.

According to Hayes, his model indicates that Bitcoin will remain between $20 and $30 thousand until people realize that real interest rates are negative. In other words, there is little chance that cryptocurrency will take off this year, but in 2024 everything will change.

“People will start buying other things, cryptocurrencies are one of them.”

The billionaire notes that the halving and the arrival of spot Bitcoin ETFs in the US, Europe and China (Hong Kong) could ensure that Bitcoin will reach a new historical price in 2024. “This is when the real bull market begins”says Hayes.

“I believe we will reach somewhere between $750,000 and $1 million per Bitcoin.”

“I believe this will be the biggest bull market in financial assets we have ever seen in the history of humanity”Hayes continues. “So not only will Bitcoin be at a ridiculous price, NASDAQ will be at a ridiculous price, the S&P500 will be at a ridiculous price.”

Despite his optimism, the BitMex founder also points to a possible catastrophic scenario in which Bitcoin fails to break its all-time high and will subsequently experience another historic crash.

“If Bitcoin doesn’t reach $70,000, it will simply crash. 75, 80, 90% [de queda].”

The full conversation, in which Hayes also comments on other aspects of the financial market, can be viewed in full in the video below.

Source: Live Coins

follow:
\