BitMEX Founder Arthur Hayes Reveals His Bold Prediction for Bitcoin’s Halving
Is Bitcoin (BTC) ready to weather the storm as it gears up for its highly anticipated halving? Renowned analyst Hayes has sparked a heated debate with his latest musings, predicting a bumpy road for BTC’s price. Hayes foresees a drop in value before and after the halving, citing a scarcity of dollar liquidity as a catalyst for heightened selling pressure in the crypto market.
According to the visionary founder of BitMEX, after May 1st, the quantitative tightening cycle will finally loosen its grip. This means we can expect a return to a more traditional rhythm, aligned with U.S. inflation trends.
“The Bitcoin block reward is forecast to halve on April 20. This is seen as a bullish catalyst for crypto markets. I agree that it will pump prices in the medium term; however, the price action directly before and after could be negative.”
Arthur Hayes, BitMEX founder
Hayes has made a bold move – he’s putting a hold on trading until May, when all eyes will be on the Federal Reserve’s discussion about cutting back on its QT program. And while we wait, the excitement continues to build as Bitcoin surged past $72,000 on April 8 – a major milestone since its dip in mid-March. The highly-anticipated Bitcoin halving, which will see the block reward cut in half from 6.25 BTC to 3.125 BTC.
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In contrast to Hayes, the experts are predicting big things for Bitcoin. According to Skybridge Capital’s fearless leader, Anthony Scaramucci, the cryptocurrency is set to skyrocket to a whopping $170,000 in this bullish market cycle. Scaramucci envisions a future where Bitcoin’s market cap rivals that of gold, making it a true powerhouse in the financial world.