BitMEX’s outspoken co-founder believes the financial world is approaching the largest bull market in human history.
BitMEX co-founder and macro-analyst Arthur Hayes recently predicted that Bitcoin’s price will soar between $750,000 and $1,000,000 per coin within roughly 3 years.
His prediction, which is far more bullish than that of most analysts, rests on a macroeconomic thesis that all financial assets are due for an unprecedented boom.
The Biggest Bull Market Ever
In an interview with Impact Theory published on Tuesday, Hayes claimed that Bitcoin will continue to trade sideways near $25,000 to $30,000 this year, before rising beyond its previous all-time high of $69,000 by the end of 2024.
Next year’s gains will be fueled by a growing economy that renders real-interest rates negative, incentivizing investors to continue looking for yield in more risky areas of the economy, such as crypto.
Other bullish factors include Bitcoin’s upcoming halving event in April, and the potential launch of more spot Bitcoin ETFs by large asset managers – including BlackRock in the United States.
According to Hayes, that’s when the “real fun starts.”
“My upside target is $750,000 to $1,000,000 level, 2026 timeframe,” the analyst said. “I believe this is going to be the largest bull market in financial assets we have ever seen in human history.”
His prediction doesn’t only apply to Bitcoin: Nasdaq, S&P500, other stock indices, and various forms of property will also soar to the moon. “We’re gonna have a lot of ridiculous prices out there, and not just in crypto,” he said.
AI Investment Boom
Hayes also predicted that governments will print more money than they have in human history to conduct yield curve control so that the global bond market doesn’t collapse. This money printing will be combined with the latest hype wave around artificial intelligence (AI) to create “the biggest tech boom mania that we’ve ever seen.”
A bull on both AI and crypto, Hayes has previously written essays arguing that AI will choose BTC as its native currency, due to its need for decentralized money to conduct its daily operations.
Hayes plans to deploy more capital into both sectors once the Federal Reserve to a policy of lower interest rates.
“I’m not trying to time when it’s gonna happen,” he said. “They’re going to be very clear about what they’re doing, and the question is whether or not you believe them.”