BitMEX co-founder Arthur Hayes has expressed his belief that two critical catalysts could propel Bitcoin (BTC) to its all-time high. In recent statements, the prominent CEO Arthur Hayes claimed that the newly launched spot Bitcoin exchange-traded funds (ETFs) have accumulated a significant amount that could contribute to the leading cryptocurrency‘s upward momentum.
CEO Comments on ETH Accumulation
Hayes suggested that the accumulation of spot ETFs and potential interest rate cuts by the Federal Reserve could cause Bitcoin’s value to skyrocket to “unimaginable levels”. According to the CME Group’s FedWatch tool, the Fed may begin cutting interest rates as early as June. Arthur Hayes then predicts that Ethereum (ETH), as the leading smart contract platform, will see a significant rise if a spot market ETF is approved. The expert also mentioned that some altcoin projects could outperform both BTC and ETH in the current market, adding the following:
Currently, the energy and attention are on the astonishing amount of Bitcoin accumulated by spot ETFs listed in the US. This, coupled with a global depreciation party, will take Bitcoin to unimaginable currency heights. The upcoming US-listed Ethereum ETF will also boost Ether prices. I have Bitcoin and Ethereum. I might buy some more, but generally, my focus is shifting to Shitcoins.
Hayes’ Statement on Cryptocurrency
Arthur Hayes has previously stated that innovations in artificial intelligence (AI) and a less stringent monetary policy from the Federal Reserve could increase the total cryptocurrency market value by trillions of dollars over the years. Consequently, BitMEX co-founder Arthur Hayes predicts that Bitcoin and Ethereum will gain value due to the impact of spot market ETFs and the Federal Reserve’s interest rate cuts. According to Hayes, ETF accumulation and interest rate cuts could increase the total value of the cryptocurrency market by trillions of dollars over the years.
