BitMEX Founder: Bitcoin Bull Market Ahead

It’s been just revealed that the BitMEX founder said that we have a new Bitcoin bull market ahead. Check out the following reports below.

Arthur Hayes, the founder of BitMEX exchange, is predicting a bullish future for Bitcoin (BTC) despite the current low activity in the crypto market.

In a recent essay, Hayes predicts that the rate hike by the Federal Reserve will trigger a surge in Bitcoin’s value.

As per the BitMEX founder, it is highly probable that the Fed will have to resort to printing money to fulfill the interest payments on reserve balances.

This action can potentially enhance the liquidity in the system. The founder further predicts that the affluent asset holders who receive interest payments from the Fed are likely to utilize the proceeds to purchase risk assets.

“All of this interest paid is effectively a stimulus program to wealthy asset holders. What do wealthy asset holders do when they have more money than they need? They purchase risk assets. Gold, Bitcoin, AI tech stocks, etc. will all be beneficiaries of this ‘wealth’ that is printed by the government and handed out as interest.”

Hayes says he believes that the “fireworks and the real Bitcoin bull market will begin in the late third and early fourth quarter of this year.”

According to Jurrien Timmer, the global macro director at Fidelity Investments, the fluctuating cycles of crypto assets resemble those of the tech bubble, with both experiencing periods of bullishness and bearishness.

According to Timmer, similar to how Amazon and Apple emerged as successful tech stocks during the tech bubble, the crypto industry is facing a similar situation where certain digital assets will thrive while others may not survive.

Timmer believes that Bitcoin (BTC) has the potential to become the “Apple” of the cryptocurrency market.