Arthur Hayes predicted bitcoin to soar to $1 million by 2030

According to the founder of the BitMEX exchange, one of the triggers for the rise in the price of the asset will be an acceleration of inflation

28.04.2022 - 09:45

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What’s new? The price of bitcoin could reach $1 million in the long term. This will happen by 2030. This opinion was expressed by the founder and former CEO of the BitMEX cryptocurrency exchange, Arthur Hayes, in a new post on his blog.

Hayes’s blog post on Medium

What will affect the growth? According to Hayes, one of the triggers for the rise in the price of bitcoin will be an acceleration of inflation. China’s actions may also spur a rally of the first cryptocurrency. If the country directs its reserves to gold and cryptocurrency, these assets may quickly rise in value. Arthur Hayes called the factor of geopolitical uncertainty the third trigger. It fuels interest in alternative financial instruments, the best of which, according to Hayes, is bitcoin.

What had happened before? On April 10, Arthur Hayes wrote on his blog that bitcoin and Ethereum could fall significantly in price by the summer of 2022. He predicted a drop in the BTC rate to $30 000 and ETH to $2 500.

In April, a cryptocurrency analyst and trader Jason Pizzino suggested that bitcoin will reach a price of $1 million. In his view, the crypto asset needs to break correlation with the stock market to do so.

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