Arthur Hayes, former head of the cryptocurrency exchange BitMEX, predicts that the price of Bitcoin will reach $1 million. He expressed this opinion by analyzing the situation around New York Community Bancorp, which, according to him, contrasts with the confident statements of Jerome Powell, chairman of the Federal Reserve System, about the strength of the US economy and banking institutions.
Hayes shared a chart of NYCB stock prices, pointing out the significant losses of the bank and a 40% drop in its stock value in one day after the publication of the profit and loss report. This event caused concern in the US banking sector, especially against the backdrop of reports of a fivefold increase in losses on loans related to commercial real estate.
Commenting on the situation, Hayes suggested that the future will bring even more money issuance, which, in his opinion, will lead to a significant increase in the value of Bitcoin to $1 million.