Bitcoin Price To Hit $1 Million, Arthur Hayes Says

It’s been just predicted that the price of Bitcoin will hit $1 million soon, according to Arthur Hayes. Check out the latest reports below.

Controversial BitMEX co-founder Arthur Hayes continues to predict that Bitcoin (BTC) will skyrocket to $1 million in price. He recently said that First Republic Bank wouldn’t likely be the last financial institution to collapse.

According to Hayes, another regional bank will likely face liquidity issues in the coming days as the Federal Reserve gears up to raise interest rates.

“Seems like the Fed still wants to hike 0.25% at its meeting this week. They still don’t get it, or maybe they do and are just hoping and praying the market is stupid. Doesn’t matter either way, a rate hike almost (guarantees) another non-(too-big-to-fail bank) will bite the dust this week.”

He continued and said this:

“(First Republic) has a loan book full of jumbo mortgages made to rich people at low rates that are now worth way less after interest rates rose. The next bank to maybe fail this week, I think, will have a loan book full of illiquid large CRE (commercial real estate) loans.”

The crypto strategist that we are referring to is Justin Bennett, who recently said that there’s a massive pool of short stops resting above the $30,000 level for BTC.

He believes that it is within the realm of possibility for BTC to briefly trade above $30,000 in order to take out early Bitcoin bears who believe the king crypto will go down in a straight line.

“Let’s see if BTC sniffs out those short liquidations above $30,000 this weekend.”

Regarding Bitcoin’s price today, at the moment of writing this article, BTC is trading in the red, and the king coin is priced at $28,088. Stay tuned for more news from the crypto space.