Crypto News– BitMEX co-founder Arthur Hayes has put forth a bold prediction, suggesting that Bitcoin (BTC) will reach a remarkable range between $750,000 and $1 million by the year 2026. However, he also foresees a looming financial crisis following this bullish run, one he compares to the severity of the Great Depression.
Arthur Hayes Unveils His Top 3 Predictions for the Cryptocurrency Bull Market
It’s a well-established pattern that after every bull market, there follows a bear cycle, and vice versa. Hayes argues that over the next three years, we are poised to witness one of the most substantial bull markets in the history of finance, with its culmination expected in 2026.
Speaking on the Impact Theory podcast, Arthur Hayes expounded on his theory regarding the forthcoming Bitcoin bull market. He envisions BTC trading sideways within the range of $25,000 to $30,000 throughout 2023. Subsequently, he anticipates some financial disruptions triggering a return of interest rates to zero in 2024.
The combination of declining interest rates, a crypto halving event, and the introduction of spot Bitcoin ETFs is predicted to propel Bitcoin’s value to a remarkable $70,000 by the close of 2024.
Is FIL Poised For a 180% Surge?
On the monthly chart, it’s evident that FIL’s price is rapidly approaching a critical horizontal support zone at $2.60, which represents an all-time low.
Back in December 2022, FIL had reached this level and experienced a swift bounce, forming a conspicuous long lower wick (highlighted with a green icon). This wick is generally interpreted as a signal of significant buying pressure.
Following the attainment of a new yearly high at $9.50 in February, FIL initiated another downward trajectory (indicated by a red icon). Despite this decline, FIL managed to establish a higher low within the $2.60 horizontal range, accompanied by yet another long lower wick (noted with a black icon).
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