According to the latest reports, Arthur Hayes said that the government money printing will be pushing Bitcoin into blow-off top by the year 2027. Check out the latest reports about this below.
Bitcoin to head to the moon soon
Arthur Hayes, the founder of BitMEX, believes that Bitcoin (BTC) is on another bull run due to reckless money printing.
In an interview with Laura Shin on the Unchained podcast, Hayes suggests that despite the official stance of tight monetary policy and relatively higher rates, the global banking system has been very accommodating to Bitcoin.
According to Hayes, BTC is heading towards a new bull market that will eventually lead to a blow-off top sometime before 2027.
“We’re starting to see the price of Bitcoin react positively since the FTX debacle in November of last year.
Bitcoin went from $16,000 to $45,000… And all the while, the banks are supposedly not printing, but they are printing money. If you actually look at how much money is going into the banking system or interest payments on government debt, it’s very stimulative, and that’s what Bitcoin is telling us.
And now, and I guess tech stocks, the magnificent seven in the United States, those tech stocks are on a tear because liquidity is there for the right type of thing. So I think 2024 is going to set up to be a choppy period where it’s time to accumulate before you get the blow-off top in 2025 into 2027. That’s really how I’m approaching the world right now.”
Hayes, the CIO of early-stage fund Maelstrom, said Fed rate cut hints are bullish for Bitcoin and crypto.
“At this point, there is no excuse not to be long crypto. How many more times must they tell you that the fiat in your pocket is a filthy piece of trash? Believe in the Lord, and he shall set you free.
BTC = $1 million.”
At the time of writing, Bitcoin is trading for $42,131.
