{"id":551266,"date":"2023-09-14T11:00:17","date_gmt":"2023-09-14T11:00:17","guid":{"rendered":"https:\/\/ktsl888.com\/?p=551266"},"modified":"2024-06-11T08:13:36","modified_gmt":"2024-06-11T08:13:36","slug":"bitcoin-rise-150","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-rise-150\/","title":{"rendered":"Why This Crypto Exchange Founder Believes Bitcoin Can Still Rise 150% From Here"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The price of Bitcoin has fluctuated over the past month, but BitMEX co-founder Arthur Hayes is the latest crypto expert to make a bullish forecast for the asset. According to the former CEO of the cryptocurrency exchange BitMEX, Bitcoin could reach $70,000, and the only reason the asset is not yet at this price is because investors are fixated on the Fed&#8217;s nominal rate.<\/span><\/p>\n<h2>Bitcoin Can Still Rise 150%<\/h2>\n<p><span style=\"font-weight: 400\">Various predictions have come in regarding Bitcoin, with some being <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-price-jump-500\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">more bullish<\/span><\/a><span style=\"font-weight: 400\"> than others. As for Hayes, he made his case regarding BTC in his Crypto Trader Digest <\/span><a href=\"https:\/\/cryptohayes.substack.com\/p\/are-we-there-yet\" rel=\"nofollow\"><span style=\"font-weight: 400\">blog post<\/span><\/a><span style=\"font-weight: 400\"> in light of various actions by the US Federal Reserve to curb inflation.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/ripple-2\/us-sec-lawsuit-ripple\/\">This Latest Move Suggests SEC Lawsuit Against Ripple Is Pushing The Crypto Firm Outside The US<\/a><\/div>\n<p><span style=\"font-weight: 400\">Since March 2022, the Fed has raised interest rates multiple times, causing many investors like Hayes to reconsider their predictions regarding the outlook of Bitcoin.<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">What happens if the Fed keeps raising rates? Can the <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> bull market gain steam? &#8220;Are We There Yet?&#8221; is an essay exploring that question.<a href=\"https:\/\/t.co\/OGkVQreIBg\" rel=\"nofollow\">https:\/\/t.co\/OGkVQreIBg<\/a> <a href=\"https:\/\/t.co\/FTYR3HBq1a\" rel=\"nofollow\">pic.twitter.com\/FTYR3HBq1a<\/a><\/p>\n<p>\u2014 Arthur Hayes (@CryptoHayes) <a href=\"https:\/\/twitter.com\/CryptoHayes\/status\/11580559?ref_src=twsrc%5Etfw\" rel=\"nofollow\">September 11, 2023<\/a><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">In the blog post, Hayes shared several metrics relating to the US treasury yield and GDP growth. Hayes began adjusting his forecasts by disputing the widely held belief that BTC&#8217;s value is negatively correlated with rising interest rates.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">A new outlook shows that the government&#8217;s spending rates and the current growth of GDP have driven down the actual treasury yield on 5% government bonds closer to 4%, making risky assets like BTC and stocks still attractive.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Hayes believes the Fed will be able to continue down this path of raising rates, and investors&#8217; search for positive real yields in response to this has translated into a bullish market for Bitcoin which <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-bull-market-arthur-hayes-it-started-march\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">began in March 2023<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, although Bitcoin is up by close to 29% since then, most of the market is still yet to catch on as everyone is focused on the nominal Fed rate and not the real rate.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cThe reason why we aren\u2019t at $70,000 is that everyone is focused on the nominal Fed rate, and not on the real rate when compared to the U.S.\u2019s eye-poppingly high nominal GDP growth.\u201d<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/yAPf0nuk\/\" alt=\"Bitcoin price chart from Tradingview.com\" width=\"2884\" height=\"1746\"><\/p>\n<pre style=\"text-align: center\">BTC price trending above $26,300 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD on Tradingview.com<\/a><\/pre>\n<h2>BTC Price To $70,000?<\/h2>\n<p><span style=\"font-weight: 400\">While speaking at the Korea Blockchain Week, Hayes <\/span><a href=\"https:\/\/ktsl888.com\/news\/arthur-hayes-early-2024-crypto-bull-run-filecoin\/\"><span style=\"font-weight: 400\">mentioned that<\/span><\/a><span style=\"font-weight: 400\"> the next Bitcoin bull market started on March 10, the day the Federal Deposit Insurance Corporation (FDIC) took over Silicon Valley Bank (SVB).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Hayes has actually made similar predictions regarding Bitcoin. Back in March 2020, the pundit made a <\/span><a href=\"https:\/\/bitcoinist.com\/bitmex-ceo-bitcoin-could-drop-to-6k-but-not-as-low-as-3k\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">prediction Bitcoin could rise<\/span><\/a><span style=\"font-weight: 400\"> from $8,000 and reach $20,000 by the end of the year. BTC&#8217;s price would later close the year 2020 at around $27,000.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/crypto\/sec-gary-gensler-crypto\/\">SEC Boss Gary Gensler Completes Senate Hearing: Here\u2019s What Crypto Investors Should Know<\/a><\/div>\n<p><span style=\"font-weight: 400\">The BitMEX co-founder <\/span><a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/arthur-hayes-blackrock-spot-bitcoin-etf\/\"><span style=\"font-weight: 400\">has previously expressed his discomfort<\/span><\/a><span style=\"font-weight: 400\"> on Spot Bitcoin ETF, from investment companies like BlackRock, calling them \u201ccrypto gatekeepers\u201d who are only looking to balance their deposit base. However, Hayes believes a catchup by the market would Bitcoin survive more interest rate raise from Fed to skyrocket more than 150% from its current level by early 2024.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the time of writing, <\/span><a href=\"https:\/\/bitcoinist.com\/is-it-too-late-to-buy-bitcoin-in-2023-traders-think-this-low-cap-crypto-gem-has-higher-upside-potential\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Bitcoin is trading<\/span><\/a><span style=\"font-weight: 400\"> at $26,320 and is up by 2.27% in a seven-day timeframe.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Featured image from Breet, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The price of Bitcoin has fluctuated over the past month, but BitMEX co-founder Arthur Hayes is the latest crypto expert to make a bullish forecast for the asset. According to the former CEO of the cryptocurrency exchange BitMEX, Bitcoin could reach $70,000, and the only reason the asset is not yet at this price is because investors are fixated on the Fed&#8217;s nominal rate. Bitcoin Can Still Rise 150% Various predictions have come in regarding Bitcoin, with some being more bullish than others. As for Hayes, he made his case regarding BTC in his Crypto Trader Digest blog post in light of various actions by the US Federal Reserve to curb inflation.\u00a0 Related Reading: This Latest Move Suggests SEC Lawsuit Against Ripple Is Pushing The Crypto Firm Outside The US Since March 2022, the Fed has raised interest rates multiple times, causing many investors like Hayes to reconsider their predictions regarding the outlook of Bitcoin. What happens if the Fed keeps raising rates? Can the $BTC bull market gain steam? &#8220;Are We There Yet?&#8221; is an essay exploring that question.https:\/\/t.co\/OGkVQreIBg pic.twitter.com\/FTYR3HBq1a \u2014 Arthur Hayes (@CryptoHayes) September 11, 2023 In the blog post, Hayes shared several metrics relating to the US treasury yield and GDP growth. Hayes began adjusting his forecasts by disputing the widely held belief that BTC&#8217;s value is negatively correlated with rising interest rates.\u00a0 A new outlook shows that the government&#8217;s spending rates and the current growth of GDP have driven down the actual treasury yield on 5% government bonds closer to 4%, making risky assets like BTC and stocks still attractive.\u00a0 Hayes believes the Fed will be able to continue down this path of raising rates, and investors&#8217; search for positive real yields in response to this has translated into a bullish market for Bitcoin which began in March 2023.\u00a0 However, although Bitcoin is up by close to 29% since then, most of the market is still yet to catch on as everyone is focused on the nominal Fed rate and not the real rate. \u201cThe reason why we aren\u2019t at $70,000 is that everyone is focused on the nominal Fed rate, and not on the real rate when compared to the U.S.\u2019s eye-poppingly high nominal GDP growth.\u201d BTC price trending above $26,300 | Source: BTCUSD on Tradingview.com BTC Price To $70,000? While speaking at the Korea Blockchain Week, Hayes mentioned that the next Bitcoin bull market started on March 10, the day the Federal Deposit Insurance Corporation (FDIC) took over Silicon Valley Bank (SVB).\u00a0 Hayes has actually made similar predictions regarding Bitcoin. Back in March 2020, the pundit made a prediction Bitcoin could rise from $8,000 and reach $20,000 by the end of the year. BTC&#8217;s price would later close the year 2020 at around $27,000.\u00a0 Related Reading: SEC Boss Gary Gensler Completes Senate Hearing: Here\u2019s What Crypto Investors Should Know The BitMEX co-founder has previously expressed his discomfort on Spot Bitcoin ETF, from investment companies like BlackRock, calling them \u201ccrypto gatekeepers\u201d who are only looking to balance their deposit base. However, Hayes believes a catchup by the market would Bitcoin survive more interest rate raise from Fed to skyrocket more than 150% from its current level by early 2024.\u00a0 At the time of writing, Bitcoin is trading at $26,320 and is up by 2.27% in a seven-day timeframe. Featured image from Breet, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":551272,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[89383,428,656,678,679,15875,1119,89185,83744,1122,1144,78790],"class_list":["post-551266","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-authur-hayes","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-prediction","tag-bitcoin-price","tag-bitmex-ceo","tag-btc","tag-btc-news","tag-btc-prediction","tag-btc-price","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\n<title>Why This Crypto Exchange Founder Believes Bitcoin Can Still Rise 150% From Here<\/title>\n<meta name=\"description\" content=\"The price of Bitcoin has fluctuated over the past month, but Arthur Hayes is the latest to make a bullish 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. 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