Bitcoin Faces “Trigger” Moment for $1 Million Price Tag, Says Former BitMEX CEO
In a recent blog post titled “The Periphery,” Arthur Hayes, the former CEO of BitMEX, suggests that Bitcoin is already warning markets about the future. He believes that with the United States involved in two new wars, the risk of escalation worldwide is growing. Hayes points out that the US Federal Reserve is facing persistent inflation but has halted interest rate hikes, creating a potential “bear steepener” scenario for the economy. As a result, he predicts that Bitcoin and gold prices will rise due to fears of global wartime inflation.
BTC/USD Rallies Following Biden’s Speech
Hayes highlights that BTC/USD has already seen a 15% increase this week following President Joe Biden’s address on the Ukraine and Israel wars. He emphasizes that Bitcoin’s rally, along with gold, is not simply speculation about an ETF being approved but rather a reflection of the future inflationary global world war situation. Hayes is known for his predictions on global economics post-COVID-19 and subsequent inflationary eras.
$1 Million BTC Price Tag in Play
Hayes suggests that as part of the knock-on effects for Bitcoin, a $1 million price tag is possible. This outcome would be driven by yield curve control (YCC), which is already starting to emerge in Japan’s controlled economics. Hayes believes that once everyone realizes the game being played, the crypto bull market will be in full swing, signaling the need to shift investments from short-term US Treasury bills to crypto.
Dalio Warns of Costly Choices
Billionaire investor Ray Dalio warns of a 50% chance of a “World War III” scenario developing and urges leaders to step back from the brink. He emphasizes that alliances in these wars can be very costly and increase the risk of being drawn fully into the conflict. Combined with buzz over an ETF approval, Bitcoin has seen a 27% increase this October and has gained over 100% year-to-date.
Hot Take: Bitcoin’s Potential Amid Global Wartime Inflation
Bitcoin’s recent rally, coupled with the escalating geopolitical tensions and potential inflationary effects of global wars, is setting the stage for a “trigger” moment. Former BitMEX CEO Arthur Hayes predicts that Bitcoin, along with gold, will rise as investors seek alternatives to long-term US Treasury bonds. The increasing risk of worldwide escalation, combined with persistent inflation and halted interest rate hikes, creates favorable conditions for Bitcoin’s growth. Hayes also suggests that yield curve control (YCC) could push Bitcoin’s price to $1 million. As geopolitical tensions continue to rise, Bitcoin’s role as a safe-haven asset becomes increasingly prominent.
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