BitMEX Founder Sees Bitcoin Skyrocketing to $100K with US Liquidity Boost

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Cryptodnes2024/08/13 18:18

By:Cryptodnes

BitMEX founder and former CEO Arthur Hayes has shared his latest insights on Bitcoin (BTC) and the broader crypto market.

In his recent article , Hayes predicts that a major liquidity boost from the US Treasury could spark a significant bull run for cryptocurrencies in 2025.

Hayes forecasts that the US Treasury might inject between $301 billion and $1.05 trillion into the market by the year’s end. He believes this influx of capital could help Bitcoin rebound from recent declines, which were partly driven by a stronger Japanese yen.

Hayes anticipates that Bitcoin could reach $100,000, buoyed by this liquidity and the upcoming US elections.

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Regarding the timing of an altcoin rally, Hayes suggests that significant gains in the altcoin sector will not materialize until Bitcoin surpasses $70,000 and Ethereum exceeds $4,000.

He notes that while Bitcoin and Ethereum have been experiencing corrections since April, they have been less impacted compared to other cryptocurrencies.

Hayes also mentions that while Solana could rise above $250, its impact on the overall crypto market will be less substantial compared to Bitcoin and Ethereum.

He expects that a year-end rally in Bitcoin and Ethereum, driven by US liquidity, will set the stage for a resurgence in altcoins, predicting a potential market breakout starting in September.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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