Arthur Hayes predicts 1000x increase in the price of cryptocurrencies, highlighting that the bullish rally is just beginning

Without a doubt, the month of March has been special for the cryptocurrency market, with impressive price rises for several cryptoactives amid expectations of growth and positive sentiment in the community. Faced with a very optimistic scenario, the co-founder of BitMEX, Arthur Hayes, shared a mind-blowing prediction about the cryptocurrency market in the future.

Hayes highlighted his strong belief that the bull markets in the largest cryptocurrency, Bitcoin (BTC), and cryptocurrencies are just beginning.

During an interview with Empire, the BitMEX co-founder stated that people will allocate funds to Bitcoin exchange-traded funds (ETFs) through retirement accounts. For him, the money in the retirement account are “sticky flows” that will potentially be more resistant to price drops.

“The sales force is just starting around the world, [dizendo] ‘Hey, put your assets here, we’ll protect you against inflation.’ Obviously I have my issues with this, but that’s the narrative, it’s working. It is the best-selling product of all time for these ETF providers. They will do more, whether it’s Ethereum or Solana or any altcoin.

So we’re just getting started. We haven’t even gotten to the fun part yet. People are returning to the surface of the water. It’s fun, but it’s the beginning. You maybe made 10x on some shit you bought and sold. Now this shit goes 1000 times louder. We’re not even there yet,” he said.

At the time of publication, the price of Bitcoin was quoted at US$71,672.58, down 1.0% in the last 24 hours. Over the past seven days, the largest cryptocurrency has seen its price rise by 6.9%.

It is worth remembering that Arthur Hayes recently provided an analysis on the new star of the crypto market, Dogwifhat, after an impressive 400% jump in value. Former BitMex CEO and co-founder Arthur Hayes is among the enthusiasts who see a bright future for this dog-themed memecoin, predicting its value could reach as high as $2.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.