{"id":573859,"date":"2024-02-08T04:00:24","date_gmt":"2024-02-08T04:00:24","guid":{"rendered":"https:\/\/uniquehot.com\/?p=573859"},"modified":"2024-06-11T08:32:47","modified_gmt":"2024-06-11T08:32:47","slug":"bitmex-co-founder-bitcoin-forecast-btc-to-reach-1-million-amid-banking-turmoil","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitmex-co-founder-bitcoin-forecast-btc-to-reach-1-million-amid-banking-turmoil\/","title":{"rendered":"BitMEX Co-Founder Bitcoin Forecast: BTC To Reach $1 Million Amid Banking Turmoil"},"content":{"rendered":"<p>Arthur Hayes, co-founder of BitMEX and a well-known figure in the crypto community, has made headlines with a <a href=\"https:\/\/twitter.com\/CryptoHayes\/status\/23579008?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">bold prediction<\/a> for Bitcoin (BTC).<\/p>\n<p>Hayes, recognized for his unique views of the crypto space, shared his thoughts on Bitcoin&#8217;s potential trajectory in light of the current financial challenges the New York Community Bank (NYCB) faces.<\/p>\n<p>NYCB, grappling with significant financial troubles, was <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-07\/new-york-community-bancorp-s-credit-grade-cut-to-junk-by-moody-s\" target=\"_blank\" rel=\"noopener nofollow\">reported<\/a> by Bloomberg as having its credit rating downgraded to &#8220;junk&#8221; by Moody\u2019s.<\/p>\n<p>Hayes interprets the bank&#8217;s struggle and the broader banking sector&#8217;s difficulties as indicators of systemic issues in traditional banking. He posits that these challenges could lead to greater reliance on cryptocurrencies like Bitcoin.<\/p>\n<h2>The Road To $1 Million: A Bitcoin Rally Postulated<\/h2>\n<p>Hayes&#8217;s perspective is shaped by the view that the conventional banking model is facing sustainability issues. He argues that to address these challenges, the US Federal Reserve could print more money, leading to a deeper financial crisis.<\/p>\n<p>In such a scenario, Hayes believes Bitcoin is a viable alternative, offering a degree of insulation from traditional banking sector problems. This outlook is not new to Hayes, who has consistently advocated for Bitcoin as a <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-weekend-rally-new-banking-crisis-arthur-hayes\/\" target=\"_blank\" rel=\"noopener \">hedge against <\/a>the instability of traditional financial systems.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Oh baby \u2026<\/p>\n<p>From junk to bankrupt, that\u2019s the future.<\/p>\n<p>And then more money printer go brrrr<a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">$BTC<\/a> = $1mm <a href=\"https:\/\/t.co\/6Ia00GWYa5\" target=\"_blank\" rel=\"noopener nofollow\">pic.twitter.com\/6Ia00GWYa5<\/a><\/p>\n<p>\u2014 Arthur Hayes (@CryptoHayes) <a href=\"https:\/\/twitter.com\/CryptoHayes\/status\/23579008?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">February 7, 2024<\/a><\/p><\/blockquote>\n<p>Delving deeper into his prediction, Arthur Hayes envisions a scenario where Bitcoin could soar to <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/holding-for-gold-micheal-saylors-poll-unveils-bitcoin\/\" target=\"_blank\" rel=\"noopener \">$1 million<\/a>. This prediction is not unique to Hayes, as other prominent crypto figures, including Samson Mow, CEO of Jan3, share similar views.<\/p>\n<p>Mow has even recently <a href=\"https:\/\/x.com\/Excellion\/status\/46476691?s=20\" target=\"_blank\" rel=\"noopener nofollow\">expressed<\/a> confidence that Bitcoin <a href=\"https:\/\/bitcoinist.com\/expert-forecasts-bitcoin-swift-rise-to-1-million\/\" target=\"_blank\" rel=\"noopener nofollow\">could rapidly ascend to $1 million<\/a>, potentially within days or weeks. However, he acknowledges that the exact starting point for this surge is yet to be determined.<\/p>\n<p>Hayes&#8217;s recent commentary aligns with his previous analyses. In a Medium <a href=\"https:\/\/cryptohayes.medium.com\/signposts-693ba565cd3e\" target=\"_blank\" rel=\"noopener nofollow\">post<\/a>,\u00a0the BitMEX Co-Founder <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-weekend-rally-new-banking-crisis-arthur-hayes\/\" target=\"_blank\" rel=\"noopener \">drew parallels<\/a> between Bitcoin&#8217;s performance during the March 2023 banking crisis and its potential future trajectory.<\/p>\n<p>Hayes suggested that similar to the 40% increase experienced during the previous banking crisis, Bitcoin could witness a significant rally following the current challenges.<\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/51Dv0XzS\/\" alt=\"Bitcoin (BTC) price chart on TradingView\" width=\"2770\" height=\"1556\"><figcaption class=\"wp-caption-text\">BTC price is moving sideways on the 4-hour chart. Source: BTC\/USDT on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=BINANCE%3ABTCUSDT\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<h2>Halving Events: Catalysts For Bitcoin&#8217;s Value Surge<\/h2>\n<p>The conversation around Bitcoin&#8217;s potential price surge is linked to its <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/expert-reveals-key-macro-indicators-for-bitcoin-a-roadmap-to-next-rally\/\" target=\"_blank\" rel=\"noopener \">halving events<\/a>. Occurring approximately every four years, these events halve the reward for mining new Bitcoin blocks, reducing the rate at which new BTCs are created.<\/p>\n<p>The next Bitcoin halving, scheduled for April this year, will decrease the daily production of Bitcoin from 900 to 450 coins. Historically, these supply reductions have led to significant price movements in Bitcoin&#8217;s value, lending credence to predictions of substantial future price increases.<\/p>\n<p>While enthusiasts like Hayes and Mow are bullish about Bitcoin&#8217;s prospects of $1 million, there are voices of caution in the crypto community. Tuur Demeester, another Bitcoin evangelist, has recently expressed skepticism regarding Bitcoin&#8217;s <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/will-bitcoin-hit-1-million-by-2028-experts-clash\/\" target=\"_blank\" rel=\"noopener \">ability to reach the $1 million mark by 2028<\/a>, the next Bitcoin halving after this year.<\/p>\n<p>In response to a graph shared by investor Fred Krueger, which projected Bitcoin to reach $1 million by 2028, Demeester acknowledged the unpredictable nature of markets and their potential to defy even well-constructed models.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Will it take BTC until after summer 2028 to reach $1M? I don\u2019t know, but I do know that every beautiful model (as is this one \ud83e\udd0c) is destined to be broken by Mr. Market. <a href=\"https:\/\/t.co\/GcmhfL2C16\" target=\"_blank\" rel=\"noopener nofollow\">https:\/\/t.co\/GcmhfL2C16<\/a><\/p>\n<p>\u2014 Tuur Demeester (@TuurDemeester) <a href=\"https:\/\/twitter.com\/TuurDemeester\/status\/01424853?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">February 2, 2024<\/a><\/p><\/blockquote>\n<p>Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Arthur Hayes, co-founder of BitMEX and a well-known figure in the crypto community, has made headlines with a bold prediction for Bitcoin (BTC). Hayes, recognized for his unique views of the crypto space, shared his thoughts on Bitcoin&#8217;s potential trajectory in light of the current financial challenges the New York Community Bank (NYCB) faces. NYCB, grappling with significant financial troubles, was reported by Bloomberg as having its credit rating downgraded to &#8220;junk&#8221; by Moody\u2019s. Hayes interprets the bank&#8217;s struggle and the broader banking sector&#8217;s difficulties as indicators of systemic issues in traditional banking. He posits that these challenges could lead to greater reliance on cryptocurrencies like Bitcoin. The Road To $1 Million: A Bitcoin Rally Postulated Hayes&#8217;s perspective is shaped by the view that the conventional banking model is facing sustainability issues. He argues that to address these challenges, the US Federal Reserve could print more money, leading to a deeper financial crisis. In such a scenario, Hayes believes Bitcoin is a viable alternative, offering a degree of insulation from traditional banking sector problems. This outlook is not new to Hayes, who has consistently advocated for Bitcoin as a hedge against the instability of traditional financial systems. Oh baby \u2026 From junk to bankrupt, that\u2019s the future. And then more money printer go brrrr$BTC = $1mm pic.twitter.com\/6Ia00GWYa5 \u2014 Arthur Hayes (@CryptoHayes) February 7, 2024 Delving deeper into his prediction, Arthur Hayes envisions a scenario where Bitcoin could soar to $1 million. This prediction is not unique to Hayes, as other prominent crypto figures, including Samson Mow, CEO of Jan3, share similar views. Mow has even recently expressed confidence that Bitcoin could rapidly ascend to $1 million, potentially within days or weeks. However, he acknowledges that the exact starting point for this surge is yet to be determined. Hayes&#8217;s recent commentary aligns with his previous analyses. In a Medium post,\u00a0the BitMEX Co-Founder drew parallels between Bitcoin&#8217;s performance during the March 2023 banking crisis and its potential future trajectory. Hayes suggested that similar to the 40% increase experienced during the previous banking crisis, Bitcoin could witness a significant rally following the current challenges. Halving Events: Catalysts For Bitcoin&#8217;s Value Surge The conversation around Bitcoin&#8217;s potential price surge is linked to its halving events. Occurring approximately every four years, these events halve the reward for mining new Bitcoin blocks, reducing the rate at which new BTCs are created. The next Bitcoin halving, scheduled for April this year, will decrease the daily production of Bitcoin from 900 to 450 coins. Historically, these supply reductions have led to significant price movements in Bitcoin&#8217;s value, lending credence to predictions of substantial future price increases. While enthusiasts like Hayes and Mow are bullish about Bitcoin&#8217;s prospects of $1 million, there are voices of caution in the crypto community. Tuur Demeester, another Bitcoin evangelist, has recently expressed skepticism regarding Bitcoin&#8217;s ability to reach the $1 million mark by 2028, the next Bitcoin halving after this year. In response to a graph shared by investor Fred Krueger, which projected Bitcoin to reach $1 million by 2028, Demeester acknowledged the unpredictable nature of markets and their potential to defy even well-constructed models. Will it take BTC until after summer 2028 to reach $1M? I don\u2019t know, but I do know that every beautiful model (as is this one \ud83e\udd0c) is destined to be broken by Mr. Market. https:\/\/t.co\/GcmhfL2C16 \u2014 Tuur Demeester (@TuurDemeester) February 2, 2024 Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":558480,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,8856,91595,1119,78790,6664,91322],"class_list":["post-573859","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-halving","tag-bitcoin-predcition","tag-btc","tag-btcusdt","tag-crypto","tag-jan3"],"acf":[],"yoast_head":"\n<title>BitMEX Co-Founder Bitcoin Forecast: BTC To Reach $1 Million Amid Banking Turmoil<\/title>\n<meta name=\"description\" content=\"Arthur Hayes, 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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