Strong bullish momentum has once again been demonstrated by Bitcoin, recently surpassing the $95,460 level—its highest point in the past two months. The overall crypto market capitalization has been elevated to $1.88 trillion, while daily trading volume has increased by 13%, reaching $28 billion. In light of these favorable conditions, Arthur Hayes, Chief Investment Officer at Maelstrom and co-founder of BitMEX, has reaffirmed his ambitious prediction that Bitcoin could rise to $1 million by 2028.
During the Token2049 conference held in Dubai, the upcoming major crypto bull run was attributed by Hayes to increasing U.S. dollar liquidity. A comparison was drawn by him to the third quarter of 2022, when a $2.5 trillion liquidity boost was introduced by the U.S. in response to financial instability and the collapse of FTX, which ultimately brought stability to both traditional financial systems and crypto markets.
A similar wave of monetary expansion has been anticipated by Hayes, which is expected to channel increased capital into scarce digital assets like Bitcoin.
U.S. Economic Measures Intensify Market Strain
Amid ongoing volatility, fresh economic uncertainty has been introduced by Donald Trump’s proposed tariffs on key trading partners. Although the implementation of these tariffs has been temporarily postponed, a warning was issued by Hayes that such measures could place additional pressure on the markets.
It was also suggested by him that Federal Reserve Chairman Jerome Powell might refrain from taking action if Trump were to return to office. However, U.S. debt could potentially be acquired by hedge funds, thereby injecting liquidity into the financial system.
From Hayes’ viewpoint, these combined elements are being aligned to pave the way for a significant Bitcoin rally, with the potential for its value to reach $1 million within the next three years.
