Bitmex‘s co-founder and former CEO, Arthur Hayes, does not think Bitcoin will hit new highs in 2023.
However, Mr Hayes is optimistic about 2024, stating that Bitcoin could hit a new all-time high of $70k.
I don’t think we get up to $70,000 this year, I think next year is when we cross that barrier, then we get the blow off top [2025], [2026] and then it’s Armageddon.
Armageddon Could be In the Form of a War
In terms of “Armageddon”, Mr Hayes explained that there might be a significant world event that could potentially shake the markets in the near future. He suggested that the ongoing quantitative easing and social discontent could lead to such an event, including potential war.
He explained:
It doesn’t have to be too straightforward, we just have this situation, we have this tinderbox of too much money, no trust and people trying to eke out a living for themselves.
US Debt Ceiling Will Eventually Be Resolved
Concerning the ongoing debate about raising the US debt ceiling, Mr Hayes speculated a solution would emerge after the usual back and forth between politicians.
He said:
© Solana Daily Brief, Inc. All Rights Reserved. This article is for informational purposes only. It is not to be used as legal, tax, investment, financial, or other advice.With the banking crisis — and you have the federal government issuing trillions of dollars of debt because they need to fund themselves — you’re basically putting this powder keg together of a situation that’s going to be exploding in Q3/Q4 of this year and so why ultimately I think it could be quite good for bitcoin. It will be quite volatile on the upside and the downside.