Arthur Hayes, co-founder of BitMEX, has made a bold prediction that Bitcoin will continue to rise and surpass the $200,000 mark. In his statements, he challenged the traditional understanding of market cycles.
Bitcoin: Four-Year Cycle No Longer Holds
Hayes argues that the Bitcoin market is no longer tied to the four-year cycles based on halving events. In a recent podcast, he stated: 'I don’t believe in the four-year cycle,' citing that global liquidity and changing investor behavior now drive the market much more than simple halving charts.
Bitcoin's Path to $200,000
According to Hayes, Bitcoin will reach $200,000, with current levels between $60,000 and $65,000 serving as a consolidation phase before the next surge. He emphasizes that Bitcoin is 'the one true decentralized money' that can withstand regulatory pressure and global economic shifts.
Altcoins: Fragile in Tight Liquidity
In contrast to Bitcoin, Hayes has less confidence in altcoins. He notes that many projects in this sector surged by 50%-100% earlier this year, only to crash by 70%-80% when liquidity tightened. In his words, the sector is 'running on narrative' without long-term support.
Thus, according to Arthur Hayes, the current market situation demands a new perspective on the behavior of Bitcoin and altcoins. He predicts Bitcoin will reach $200,000, while altcoins may face serious challenges.
