The founder of BitMEX, Arthur Hayes, has reiterated his famous prediction that the Bitcoin (BTC) price will reach $1 million by 2030.
Hayes’ comments have come during a period of high enthusiasm in the crypto market, with BTC’s price recently tapping $35,000 for the first time since May 2022.
Meanwhile, whales are also backing the exciting new crypto project Bitcoin Minetrix (BTCMTX), which is being touted as one of 2023’s biggest presale launches.
Arthur Hayes Predicts Bitcoin Bull Run Triggered by Geopolitical Tensions
In a blog post on October 24, Arthur Hayes argued that escalating geopolitical tensions and wartime inflation could trigger the next bull run for Bitcoin.
With the US investing heavily in multiple wars while the Federal Reserve faces persistent inflation, Hayes believes investors will seek alternatives like gold and BTC to hedge against global inflation.
He points to Bitcoin’s 15% jump last week immediately after President Biden’s speech about the wars in Ukraine and Israel as evidence that Bitcoin is already being primed in this manner.
Hayes also reiterated his prediction that BTC could reach $1 million as central banks like the Fed lose control of interest rates, necessitating control policies to fix rates as “politically expedient levels.”
Once investors realize that the Fed has fixed rates and bonds are no longer safe, Hayes argues that a flood of money will come into the crypto market.
He concluded that the above is the “trigger” for the next bull run, with Bitcoin serving as a hedge against global volatility.
Bitcoin Dominances Reaches 2.5-Year High as Next Halving Approaches
Arthur Hayes isn’t the only one expecting more bullishness ahead for Bitcoin.
Bitcoin’s market dominance has reached 53%, its highest level in over 2.5 years.
This indicates that BTC is strengthening as the next halving event approaches, scheduled for April/May 2024.
Historically, halvings tend to catalyze bullish price action by cutting BTC mining rewards in half, reducing new supply.
Now that Bitcoin’s dominance is growing, coinciding with this week’s sharp price surge, many believe this could be the beginning of a new bull cycle.
Moreover, October is traditionally a bullish month for the crypto market – hence the nickname “Uptober.”
Whales have already begun accumulating in anticipation of further upside, with on-chain data showing that large holders refuse to sell their BTC.
All in all, the stars look to be aligning for Bitcoin to continue its positive trajectory in the remaining weeks of 2023 and beyond.
Bitcoin Minetrix Generates Enormous Presale Interest with Innovative Stake-to-Mine Model
As Bitcoin’s dominance strengthens, investors are looking for opportunities to capitalize on any impending bull run.
One new project attracting significant interest is Bitcoin Minetrix (BTCMTX), a tokenized cloud mining platform currently in presale.
Unlike most mining-focused projects, Bitcoin Minetrix aims to revolutionize Bitcoin mining by allowing token holders to earn yield through staking and receive mining rewards without expensive hardware.
The project has already raised over $2.3 million in presale funding as investors clamor to get involved, given BTCMTX’s potential to benefit from any bullishness that Bitcoin experiences.
Currently, BTCMTX tokens are on offer for just $0.0112 – although, given the presale’s tier-based approach, this price point is only available for another day.
Unsurprisingly, these appealing factors have helped generate significant buzz on social media, with Bitcoin Minetrix’s Twitter page now boasting an audience of 4,300 people.
The project’s Telegram community has also grown exponentially in the past week, with people worldwide joining to learn more about the development team’s ambitions.
Looking ahead, the developers intend to launch BTCMTX on various CEXs and DEXs in the future, democratizing access to the token.
There are also plans to partner with high-profile cloud mining entities to boost Bitcoin Minetrix’s capacity and provide additional reward pathways for users.
With presale prices still so low, Bitcoin Minetrix looks well-positioned for growth in the year ahead as Bitcoin’s resurgence continues to gather pace.
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