Arthur Hayes Predicts $100,000 Bitcoin, Shares Timing for Altseason

Arthur Hayes, the co-founder of BitMEX Exchange, has shared a blog post covering various topics, including Bitcoin’s potential trajectory and the future of altcoins.

Hayes is known for his provocative market analyses and has outlined a scenario where Bitcoin could reach $100,000.

Key points:

• Predicts Bitcoin will hit $100,000 next.
• Links crypto market movements to US Treasury bill issuance and liquidity.
• Sets specific price targets for Bitcoin, Ethereum, and Solana.
• Maintains his long term BTC price prediction of $1 million.

Hayes’ analysis draws connections between macroeconomic factors and crypto price movements. He focuses on the relationship between US Treasury operations and market liquidity.

Also read: Crypto Funds See Modest $176M Inflows, with Ethereum Benefiting the Most

Hayes predicts Bitcoin will hit $100,000

The BitMEX co-founder suggested that the recent slump in crypto markets can be attributed to reduced Treasury bill issuance, which effectively drained liquidity from the system.

However, Hayes cites an expected $301 billion in T-bill issuance by year-end. Hayes argues that this liquidity could push Bitcoin towards the $100,000 mark.

Speaking about a potential altcoin season, Hayes shares specific price milestones that he believes are crucial in determining an altseason.

According to Hayes, Bitcoin needs to surpass $70,000 and Ethereum must break $4,000 before the broader altcoin market experiences a resurgence.

Hayes stated: “Solana will also climb over $250, but the crypto market-wide wealth effect of a Solana pump is nowhere near as potent as with Bitcoin and Ether, given the relative market caps.”

The BitMEX co-founder also points to the US debt ceiling negotiations as a critical juncture for the crypto market. He anticipates that the resolution of this political process could flood the market with liquidity.

Hayes stated that this could potentially start the real bull market. He also maintains his long-term prediction of Bitcoin reaching $1 million.