Arthur Hayes, co-founder and former CEO of BitMEX exchange, shared his view that the ongoing bullish trends in the crypto market might be short-lived. In his latest article, Hayes predicts that the crypto market could experience a significant downtrend around January 20th, when Donald Trump is set to be inaugurated as the 47th US President.
Hayes Predicts a ‘Harrowing Dump’
During his campaign, Trump won the favor of many in the crypto community with his digital asset-oriented promises. These included replacing the Chairman of the Securities and Exchange Commission, Gary Gensler, with a pro-crypto figure, eliminating Bitcoin taxes, making the US the world's crypto capital, and creating a national BTC stockpile. However, Hayes noted that the president-elect cannot quickly implement policy changes upon taking office.
Reasons for the Expected Downtrend
Hayes explains that most elected US legislators commence campaigning by the end of 2025 ahead of the November 2026 mid-term elections. Consequently, he projects that Trump could begin any significant policy changes only after a year of inauguration.
A Glimmer of Hope
Towards the end of his article, Hayes stressed the possibility that the bull market might continue after Trump's inauguration. Regardless of whether the crypto market maintains its bullish trends, the BitMEX co-founder stated his commitment to buying Bitcoin and other crypto assets during dips and rips.
While Arthur Hayes warns of a potential downturn in the crypto market following Trump's inauguration, he also sees prospects for renewed bullish trends and remains personally optimistic about buying opportunities.
