Arthur Hayes Predicts Bitcoin [BTC] Could Hit a New All-Time High This October

After recently peaking at $65,000, Bitcoin [BTC] experienced a notable decline and was trading at $61,742—after decreasing 3.52% in the last 24 hours.

After recently hitting a high of $65,000, Bitcoin [BTC] witnessed a noticeable drop and was trading at $61,742—after decreasing 3.52% in the last 24 hours.

This coincides with rising geopolitical tensions in the Middle East, sparking concerns among investors.

However, Arthur Hayes, the founder of BitMEX and Maelstrom, remains optimistic about BTC’s trajectory.

Following a recent discussion after the TOKEN2049 events in Singapore, he expressed strong confidence that Bitcoin could reach a new all-time high this October.

Hayes’ predictions offer a counterpoint to the current market volatility, suggesting that bullish sentiment may still prevail in the cryptocurrency space. 

Commenting on the same, Hayes noted, 

“In October. Before the election.”

According to Hayes, the prevailing political instability in the U.S. has created a “vacuum of power,” fostering chaos that could benefit Bitcoin.

He anticipates a surge in liquidity as the 5th of November approaches, suggesting that this uncertainty will drive investors to seek safer assets like cryptocurrencies.

This shift in sentiment, he proposed, could catalyze a significant increase in BTC’s price as people look to safeguard their portfolios against the volatility in traditional financial markets.

Adding to the excitement, Anthony Scaramucci, the founder of SkyBridge Capital, engaged the crypto community on X by playfully hinting at a promising month ahead with the term “Uptober.”

This clever fusion of “up” and “October” highlights an optimistic outlook for cryptocurrency markets this fall.

That being said, Hayes also expressed his enthusiasm for memecoins, particularly Iggy Azalea’s MOTHER.

He highlighted the recent interest rate cuts by the Federal Reserve, the European Central Bank, and China, hinting at an impending fiscal “bazooka” that could stimulate market activity.

Unlike many projects that often prioritize quick gains, Hayes appreciates the MOTHER team’s genuine commitment, noting their active involvement in the project rather than just aiming for a pump-and-dump scheme.

This authenticity, he believes, sets MOTHER apart in the evolving memecoin landscape.

The above is the detailed content of Arthur Hayes Predicts Bitcoin [BTC] Could Hit a New All-Time High This October. For more information, please follow other related articles on the PHP Chinese website!