Bitcoin bull run: Arthur Hayes predicts explosion, but not in 2023

Still a little patience ? – The manifesto end of bear market 2022 on cryptos seems to have given the cryptosphere a bit of a boost since the start of the year. If some are already very optimistic to see the Bitcoin (BTC) hit $100,000 (or even clearly exceed them), the question of timing is the most divisive. For the ex-CEO of BitMEX, Arthur Hayesthe next bull market for the king of cryptos would start instead in 2024.

A spectacular rise on Bitcoin, but only next year?

Although the bitcoin price come back from afar (around 16,000 dollars in December 2022), it is still struggling to free itself from the resistance symbolic of $30,000. This, however, does not stop crypto market watchers from getting into price predictions more or less intoxicated with euphoria.

Rather than guesswork on a price target, it’s more like a time estimate that recently happened Arthur Hayes, the former head of the BitMEX crypto exchange. It’s during the podcast What Bitcoin Didanimated by Peter McCormackwhich this crypto veteran explained his take on When a new bull run of Bitcoin could launch.

Like many, the process of halving of the BTC network seems to him a good starting point to see the most valued crypto-asset start a new vertiginous ascent. The halving of block rewards to miners, there passing from 6.25 to 3.125 BTCwould strongly motivate the purchase of this digital asset, highlighting its scarcity in time.

Bitcoin bull run will be delayed in 2023 according to Arthur Hayes

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$70,000 in 2024 to start, then… “the explosion”

Arthur Hayes sees no clear direction for the crypto market for the year 2023 – for which he sees mostly undecided volatility. He considers, however, that the old peaks of BTC could therefore be reached and exceeded around the next (and fourth) halving of this blockchain network, which should occur towards the April 27, 2024.

According to him, it would not even be only the beginning of a euphoric phase. Because even if the ex-CEO of BitMEX does not give us his small personal forecast of the price of BTC, he expects a spectacular climb of the value of Satoshi Nakamoto’s invention:

” (…) You know ? We have this halving next year 2024. I think it will be a good year. I don’t think we’ll hit $70,000 this year [2023]. I think next year will be the year we break that barrier. Then we’ll have the peak of the explosion [des cours du BTC] in 2025/2026 (…). »

If Arthur Hayes does not make a prediction for this phase “explosive” finale of the price of BTC, others are more adventurous. On the side of the fund Ark Investfor example, it is very seriously considered that a single bitcoin reaches million dollars by the end of this decade. It remains to be seen if the fourth halving of the BTC network will already be a first push to pull prices up, as the previous three were.

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