Bitcoin Price Prediction: BTC Could Soar To $1M As The World Enters A Period Of Monetary Change, Says Arthur Hayes

Bitcoin has bounced back from a huge price crash this week—though crypto exchange Coinbase has issued serious warning to users.

Bitcoin has bounced back from a huge price crash this week—though crypto exchange Coinbase has issued serious warning to users.

The bitcoin price has swung from highs of $70,000 per bitcoin last month to lows of under $50,000 on Monday. The rebound, coming along with a stock market rally, has been helped by two of former U.S. president Donald Trump's sons, Eric and Don Jr., have teased a "big" crypto announcement.

Now, after Trump floated a radical plan to solve the U.S. debt crisis, legendary trader Arthur Hayes has predicted the bitcoin price could soar to $1 million—something that would give bitcoin a market capitalization of $20 trillion.

Bitcoin and crypto prices have crashed this week as the unwinding of the Japanese yen so-called carry trade has sent markets into a tailspin—but some traders are now feeling bullish again.

Bitcoin crashed to lows of $47,000 on Monday after a crypto market sell-off sparked by the unwinding of the Japanese yen so-called carry trade, which saw traders left nursing losses and traders纷纷涌向稳定币.

However, the bitcoin price has since rebounded, adding more than 10% and putting a $100,000 bitcoin price in target for traders.

“Bitcoin is resurgent after a dramatic switch from fear to greed," Arthur Firstov, chief business officer at crypto payments provider Mercuryo, said in emailed comments and sharing data that showed a "stampede" of buyers caused a 82% week-on-week spike in transaction volume. "As the digital token market is pulled higher crypto enthusiasts are once again focusing on the king of crypto breaching the $100,000 mark."

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