On the verge of the next bull run? We might as well say it right away, no one in the editorial office has a crystal ball to predict with certainty when the next bullish cycle will start, or even if it will even resume one day! In the little game of predictions, everyone contributes their comment, their intuition, their past experience, we try to compare the cycles, to make the figures speak, in a word to find a form of logic in a market which does not. It’s not always really. And our specialist of the day, Arthur Hayes, has often shown unbridled optimism when it comes to considering a price for Bitcoin in the years to come since he sees it squarely at 1 million dollars by 2025 …which is puzzling, we admit.
But today, no vaticination, but rather an analysis of certain financial indices which would, according to the former CEO of BitMex, clearly herald a future increase in the price of digital asset number 1: Bitcoin. Let’s see it together.
Some weak signals would suggest an upcoming rise in Bitcoin
Today at the head of an investment fund in Web3, Arthur Hayes is an astute observer of the crypto market and in the midst of his sometimes slightly eccentric price predictions, we still find the eye of the expert to know what to look for among the countless indices and statistics that flood the financial markets. This is how he shared on social networks the chart combined RRP (Reverse Repurchase Agreement) and the TGA (Treasury General Account) which provides an idea of the liquidity available on the financial markets in relation to the American Federal Bank.
And the higher the curve goes, the greater the liquidity in the financial markets, but, in general, in this type of configuration, the price of Bitcoin appreciates upwards. We can actually see on the graph below that the index was at -100 at the end of the summer and that it reached almost 620 in November. For Arthur Hayes, there is no doubt, liquidity is back and will push the price of Bitcoin and cryptocurrencies north.
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1 million, 760,000 dollars, Arthur Hayes is a regular at price predictions
And he is not the only one to think so since other Internet users have confirmed Mr. Hayes’s statements, including a certain Dharmafi who also provided graphs that point in the same direction. Finally, in his message of November 25, the founder of BitMex will take the opportunity to put a small tackle on the Secretary of the Treasury of the United States, Janet Yellenwhich he allows himself to call “Bad Gurl Yellen”. This clearly shows how much this crypto entrepreneur does not appreciate the work of the politician who repeats over and over all the bad things she thinks about cryptocurrencies and especially the opacity of the platforms on which they are exchanged.
This kind of worrying warning message clearly denotes the unfailing optimism of Arthur Hayes who therefore announced Bitcoin at $760,000 in July 2023 before changing his mind and aiming squarely for a million dollars a quarter later . You should of course be very careful with this kind of news, as this is only your opinion and not investment advice.
There are many reasons to believe in it, such as the probable arrival of spot Bitcoin ETFs, the halving which is coming in a few months or even the return of liquidity to the markets, as described by Arthur Hayes. But the reasons not to believe it are also there, between the latent economic crisis in the United States and inflation still at a record level, we will perhaps have to wait a little before seeing Bitcoin touch up its historic ATH at 69 000 dollars.
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