In a recent podcast appearance, Arthur Hayes, former CEO of BitMEX and renowned crypto analyst, offered his bullish predictions for Bitcoin’s price trajectory. Hayes foresees Bitcoin reaching $100,000 by the end of 2024 and potentially soaring to $250,000 by the end of 2025. He also suggested Dogecoin could reach $1.
Hayes bases his optimistic outlook on the anticipated fiscal policies of the Trump administration. He believes the administration’s focus on a weaker dollar, coupled with significant credit injections into the American economy, will drive inflation and benefit assets like Bitcoin with a fixed supply. He pointed to the correlation between expanding bank credit and Bitcoin’s price, suggesting that Bitcoin is currently anticipating this inflationary environment.
Hayes’s prediction aligns with his previous forecast of Bitcoin reaching $1 million during a Trump presidency. He reiterated his confidence in this long-term projection, citing the ongoing trend of reshoring manufacturing and the substantial credit expansion required to achieve this goal, initiated under the Biden administration and likely to continue under Trump.
Hayes cautioned newcomers to the bull market to remain rational and strategically take profits. His advice underscores the importance of managing risk and not getting swept up in the euphoria of rapidly rising prices.
