Bitcoin Price Prediction: $750,000 to $1 Million by 2026
BitMEX co-founder Arthur Hayes predicts that Bitcoin (BTC) will reach a price range of $750,000 to $1 million by 2026. However, he also warns that a financial crisis, as severe as the Great Depression, will follow the bull market.
The Largest Bull Market in History
Hayes believes that the next three years will see one of the largest bull markets in human history, with its peak expected in 2026. He suggests that BTC will remain between $25,000 and $30,000 in 2023, but a financial disturbance will cause interest rates to drop to zero in 2024.
Bitcoin’s Rise to $1 Million
Hayes explains that the combination of decreasing interest rates, the crypto halving event, and the introduction of spot Bitcoin ETFs will push Bitcoin’s price to $70,000 by the end of 2024. He expects the “real bull market” to begin at this point. By 2026, he predicts that Bitcoin will reach a price range of $750,000 to $1 million.
Fueling the New Bull Market
In 2023, with the Federal Reserve interest rates at their highest in 22 years, there is a liquidity crunch in the market. However, Hayes believes that central banks will start reducing interest rates and implementing quantitative easing again, which will ignite the bull market.
Investing in AI and Blockchain Technology
Hayes suggests that newly printed money from central banks will flow into new technologies like Artificial Intelligence (AI) and blockchain. He compares this trend to investments made in radio technology during the 1920s and Web 2.0 advertising, social media, and sharing economy startups in 2008. He believes that AI and blockchain will be the preferred investment destinations in the upcoming bull market.
Filecoin: Hayes’ Favorite Altcoin
Hayes emphasizes the importance of decentralized solutions for AI development. While he has not found a decentralized solution for sharing computing power, he sees decentralized data storage as a viable option. He particularly favors Filecoin (FIL) as the “largest decentralized data storage project” with a significant amount of stored data.
Filecoin’s Price Movement
Filecoin’s price is approaching its all-time low horizontal support area at $2.60. Despite recent decreases, it has created higher lows within this area, indicating potential bullish movement. The future trend will depend on whether the price breaks out from a long-term descending trendline or falls below $2.60.
The Great Depression Post-Bull Market
While Hayes is bullish until 2026, he predicts that the bull market will end with a severe financial crisis caused by rising debt and excessive money printing. He warns that governments cannot continue to save everything and print unlimited money without consequences.
Hot Take: Brace Yourself for Bitcoin’s Rise and an Impending Crisis
Arthur Hayes predicts an impressive rise in Bitcoin’s price to $1 million by 2026, driven by factors such as decreasing interest rates, halving events, and the introduction of ETFs. However, he also warns that this bull market will be followed by a financial crisis similar to the Great Depression due to rising debt and excessive money printing. While investors can anticipate significant gains in the coming years, they must also prepare for potential economic turbulence ahead.
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