Former CEO and co-founder of BitMEX, Arthur Hayes спрогнозировал the rise in the price of the first cryptocurrency to $1 million by the end of the decade due to the ineffective monetary policy of the US and the EU.
According to him, the pandemic exposed many flaws in Western financial systems. US Federal Reserve prints money in the fight against the consequences of COVID-19, Hayes clarified.
He also highlighted gold as a traditional store of value. The BitMEX co-founder is confident that in the event of a collapse of Western financial markets, gold prices would surge to $20,000.
Sanctions against Russia over the war in Ukraine will worsen the situation, Hayes explained. In his view, Bitcoin supporters should work on its wider adoption and use the asset for everyday transactions.
Earlier, Hayes predicted a fall in the cryptocurrency market in June 2022. In his view, Bitcoin and Ethereum would test $30,000 and $2,500 respectively, as the Nasdaq 100 (NDX) fell.
Earlier in April, Hayes will trade above $10,000 by the end of 2022.
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