#ArthurHayes #BitMEX #Bitcoin #CryptoMarket #ETFs #BullRun #BitcoinPrediction #CryptoTurbulence
Arthur Hayes, the founder and ex-CEO of BitMEX, speculates that the cryptocurrency market will face a tumultuous 2024 as Bitcoin (BTC) becomes fully integrated within the traditional finance sector via recently launched exchange-traded funds (ETFs). Hayes asserts in his recent blog post, “ETF Wif Hat”, that the current bull season is only just commencing. Despite potential market fluctuations, he predicts that the overall crypto complex will reach or surpass an all-time high by the end of the year.
As for his prediction about a “choppy” 2024, Hayes asserts this is in relation to price action. He advises those questioning if the recent Bitcoin ETF listings indicate the peak of this bull cycle not to be deterred by BTC’s performance since these products started trading. Hayes reasons that central bankers and governments globally are providing reasons why the “money printer must go brrr.” After this happens, money will flood out, triggering another surge in the crypto bull run, one that could be amplified by lawmakers stirring fears of a financial crisis. He concludes by asserting that from a long-term perspective, the ETF sphere will only accumulate assets if inflation continues, hinting at potential long-term arbitrage opportunities.
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