BitMEX co-founder Arthur Hayes, who has long predicted Bitcoin would reach $250,000 in 2024, recently stated that he is not planning to invest any funds at the moment. Instead, he is choosing to wait and see when the U.S. Federal Reserve System (the Fed) begins its monetary easing policy.
In a conversation with Coin Stories podcast host Natalie Brunell, Hayes pointed out that if the current U.S.-Iran situation continues to escalate, it may force the U.S. government to support military spending by printing money. He believes that what truly drives the rise in Bitcoin's value is not the war itself, but the resulting over-issuance of currency.
"War could trigger a sharp sell-off in the stock market, and Bitcoin may also come under pressure," he mentioned. "I won't enter the market until the Fed starts cutting interest rates or expanding its balance sheet."
Hayes predicts that if market sentiment deteriorates, the price of Bitcoin may fall below $60,000, triggering a series of leveraged liquidations and forming a chain reaction. It is worth noting that Bitcoin briefly touched the $60,000 level on February 6th and then entered a mild recovery channel.
Despite temporarily remaining cautious, Hayes has not abandoned his long-term bullish stance. He still firmly believes that Bitcoin is likely to hit the $250,000 target in 2026 and stated that in the coming years, it will be difficult for the price of Bitcoin to return to the sub-$100,000 range.
At the same time, market analyst van de Poppe also believes that the current upside potential for Bitcoin and altcoins still exists, uncertainty factors are decreasing, and market sentiment is gradually turning optimistic.
BitMEX Co-Founder Arthur Hayes Holds Off on Bitcoin Bets, Awaiting Fed Easing
BitMEX co-founder Arthur Hayes says that despite being long-term bullish on Bitcoin to $250,000, he is currently waiting on the sidelines due to the Fed's lack of easing, believing that currency over-issuance is the core driver of Bitcoin's rise.