The cryptocurrency market has been quiet of late, with bitcoin continuing to oscillate in the $27,000 range since early June. According to The Block Research, bitcoin's annualized volatility is currently around 32%, a significant drop from its historical average of 71%, and is currently lower than even Meta and Amazon stock.
Bitcoin bull market to start by end of Q3
Arthur Hayes, co-founder of BitMEX, wrote an article on the 2nd predicting that the real bitcoin bull market will start by the end of Q3 to early Q4 of this year, giving reasons why, contrary to traditional monetary theory, a rise in interest rates will lead to a rise in the volume of money and inflation, rather than a fall, due to current debt and production output conditions.
Arthur Hayes believes that US inflation will bottom out and start to rise slowly, which means that the Fed will probably pause in June and then resume rate rises in July, with the policy rate likely to be close to 6% by the end of August, and that higher rates will increase the interest paid on RRP (reverse repo) and IORB (interest on reserves rate) balances, which in turn will increase the amount of money printed by the Fed:
All these interest payments are in effect a stimulus package for the rich. What will rich asset holders do when they have more money than they need? They will buy risky assets, gold, bitcoin, AI tech stocks, etc. will all be the beneficiaries of this 'wealth' printed by the government and paid out in the form of interest.
When the money printing machine starts working, bitcoin will boom!
Bitcoin is estimated to rise above $70,000 next year
Previously, Arthur Hayes made a specific prediction for the price of Bitcoin during his appearance on the Podcast show 'What Bitcoin Did' last week. He doesn't think Bitcoin will reach a record high of $70,000 this year, but it has a chance next year, but then it will top out in 2025 or 2026 due to the many risk factors surrounding the world:
I don't think bitcoin can hit $70,000 this year, but it can next year, and then in 2025, 2026, the price will skyrocket, and then it's Armageddon.
Bitcoin bull market to start by end of Q3
Arthur Hayes, co-founder of BitMEX, wrote an article on the 2nd predicting that the real bitcoin bull market will start by the end of Q3 to early Q4 of this year, giving reasons why, contrary to traditional monetary theory, a rise in interest rates will lead to a rise in the volume of money and inflation, rather than a fall, due to current debt and production output conditions.
Arthur Hayes believes that US inflation will bottom out and start to rise slowly, which means that the Fed will probably pause in June and then resume rate rises in July, with the policy rate likely to be close to 6% by the end of August, and that higher rates will increase the interest paid on RRP (reverse repo) and IORB (interest on reserves rate) balances, which in turn will increase the amount of money printed by the Fed:
All these interest payments are in effect a stimulus package for the rich. What will rich asset holders do when they have more money than they need? They will buy risky assets, gold, bitcoin, AI tech stocks, etc. will all be the beneficiaries of this 'wealth' printed by the government and paid out in the form of interest.
When the money printing machine starts working, bitcoin will boom!
Bitcoin is estimated to rise above $70,000 next year
Previously, Arthur Hayes made a specific prediction for the price of Bitcoin during his appearance on the Podcast show 'What Bitcoin Did' last week. He doesn't think Bitcoin will reach a record high of $70,000 this year, but it has a chance next year, but then it will top out in 2025 or 2026 due to the many risk factors surrounding the world:
I don't think bitcoin can hit $70,000 this year, but it can next year, and then in 2025, 2026, the price will skyrocket, and then it's Armageddon.