Bitcoin has once again demonstrated strong bullish momentum, recently surpassing the $95,460 level—its highest point in the past two months. This has elevated the overall crypto market capitalization 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 in Dubai, Hayes attributed the upcoming major crypto bull run to increasing U.S. dollar liquidity. He drew a comparison to the third quarter of 2022, when the U.S. introduced a $2.5 trillion liquidity boost in response to financial instability and the collapse of FTX, which ultimately brought stability to both traditional financial systems and crypto markets.
Hayes anticipates a similar wave of monetary expansion, which will channel increased capital into scarce digital assets like Bitcoin.
U.S. Economic Measures Intensify Market Strain
Amid ongoing volatility, Donald Trump’s proposed tariffs on key trading partners have introduced fresh economic uncertainty. Although officials temporarily postponed the implementation of these tariffs, Hayes issued a warning that such measures could place additional pressure on the markets.
He also suggested that Federal Reserve Chairman Jerome Powell might refrain from taking action if Trump were to return to office. However, hedge funds could potentially acquire U.S. debt, thereby injecting liquidity into the financial system.
From Hayes’ viewpoint, these combined elements are aligning to pave the way for a significant Bitcoin rally, with its value potentially reaching $1 million within the next three years.
