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Learning & News => News related to Crypto => Topic started by: sirty143 on February 09, 2024, 12:35:54 PM

Title: Former Bitmex Chief Foresees Bitcoin Rising to $1 Million Amid Banking Bailout a
Post by: sirty143 on February 09, 2024, 12:35:54 PM
Former Bitmex Chief Foresees Bitcoin Rising to $1 Million Amid Banking Bailout and Money Printing Surge

Arthur Hayes, former CEO of crypto exchange Bitmex, has predicted a remarkable surge in the price of bitcoin, envisioning it reaching $1 million amidst anticipated banking bailout measures and significant money printing by the Federal Reserve... See more for yourself here (https://news.bitcoin.com/former-bitmex-chief-foresees-bitcoin-rising-to-1-million-amid-banking-bailout-and-money-printing-surge/).

Your opinion is greatly appreciated.

Title: Re: Former Bitmex Chief Foresees Bitcoin Rising to $1 Million Amid Banking Bailout a
Post by: Charles-Tim on February 09, 2024, 06:55:00 PM
If Bitcoin will reach $1 million, with the present supply, it needs a marketcap of at least 19.62 trillion. Bitcoin marketcap now is around $933.22 billion.

It is possible that US dollar can continue to devalue, but before bitcoin will get to $1 million will take time. I am not even expecting it in the next bull run which is this year and next year.

It is possible but it will take a long period of time to achieve this. And more coins would have been introduced into circulation that will push the marketcap higher than what is in my calculation.
Title: Re: Former Bitmex Chief Foresees Bitcoin Rising to $1 Million Amid Banking Bailout a
Post by: Aanuoluwatofunmi on February 09, 2024, 09:59:56 PM
Quote from: sirty143 on February 09, 2024, 12:35:54 PM
Former Bitmex Chief Foresees Bitcoin Rising to $1 Million Amid Banking Bailout and Money Printing Surge

Arthur Hayes, former CEO of crypto exchange Bitmex, has predicted a remarkable surge in the price of bitcoin, envisioning it reaching $1 million amidst anticipated banking bailout measures and significant money printing by the Federal Reserve... See more for yourself here (https://news.bitcoin.com/former-bitmex-chief-foresees-bitcoin-rising-to-1-million-amid-banking-bailout-and-money-printing-surge/).

Your opinion is greatly appreciated.

Everyone has the right to say whatever thing they do feels about bitcoin as some will have it, they say it will never reach another all time high, some said it will die down, some believe its going above hundred thousand US dollars while someone like this man in question believe sooner or later bitcoin will get to worth over a million dollars, people will keep saying their own take about bitcoin whether right or wrong.
Title: Re: Former Bitmex Chief Foresees Bitcoin Rising to $1 Million Amid Banking Bailout a
Post by: Baofeng on February 09, 2024, 11:17:04 PM
Quote from: Aanuoluwatofunmi on February 09, 2024, 09:59:56 PM
Quote from: sirty143 on February 09, 2024, 12:35:54 PM
Former Bitmex Chief Foresees Bitcoin Rising to $1 Million Amid Banking Bailout and Money Printing Surge

Arthur Hayes, former CEO of crypto exchange Bitmex, has predicted a remarkable surge in the price of bitcoin, envisioning it reaching $1 million amidst anticipated banking bailout measures and significant money printing by the Federal Reserve... See more for yourself here (https://news.bitcoin.com/former-bitmex-chief-foresees-bitcoin-rising-to-1-million-amid-banking-bailout-and-money-printing-surge/).

Your opinion is greatly appreciated.

Everyone has the right to say whatever thing they do feels about bitcoin as some will have it, they say it will never reach another all time high, some said it will die down, some believe its going above hundred thousand US dollars while someone like this man in question believe sooner or later bitcoin will get to worth over a million dollars, people will keep saying their own take about bitcoin whether right or wrong.

And they have their own narratives as well, we all know that Hayes is also a big Bitcoin holder, then if he says that it will rise to that price, then obviously he wanted more money.

Not saying that it will not happen, we really don't know what the future holds, but if it will have to happen, I think but that time, Bitcoin might be the biggest assets, people's money are going to flow on the ecosystem, dwindling all other assets like gold or even Wall Street are going full Bitcoin. So the question is, will that scenario come to fruition or not?
Title: Re: Former Bitmex Chief Foresees Bitcoin Rising to $1 Million Amid Banking Bailout a
Post by: Z-tight on February 10, 2024, 09:55:11 PM
I will call this a 'wishful' prediction, it is not unusual to read about such price prediction, we all have different points of view, and if some persons believe BTC price can surge as high as that, then that is fine. However the reality is that we are very far away from $1 million for 1BTC, the price moves organically and to get such a price must be sometime down the years, no matter what happens to the banks or to fiat.
Title: Re: Former Bitmex Chief Foresees Bitcoin Rising to $1 Million Amid Banking Bailout a
Post by: TomPluz on February 11, 2024, 04:52:55 AM
Quote from: Charles-Tim on February 09, 2024, 06:55:00 PM

If Bitcoin will reach $1 million, with the present supply, it needs a marketcap of at least 19.62 trillion. Bitcoin marketcap now is around $933.22 billion. It is possible that US dollar can continue to devalue, but before bitcoin will get to $1 million will take time. I am not even expecting it in the next bull run which is this year and next year.


Seems to me that many well-known Bitcoin supporters are always telling us that one day Bitcoin can be worth a million dollar but of course it would be hard to say when that can happen as nobody can be able to predict the future. I think this is a question of WHEN and not of IF. There are still so many things to happen before we can see BTC rising to that mark...and definitely those can be taking time - a lot of time. And yet by that time, we know that there is a big possibility that the value of US Dollar is very much devalued as forces are working right now for its eventual demise as the leader in international finance being the default currency for conducting business. USA is on a decline in many aspects and soon it can be replaced by other big countries in finance and trading. Things happening in New York Community Bancorp (NYCB) (https://finance.yahoo.com/video/why-investors-worried-ny-community-130052592.html) is a tell-tale signs of what can be wrong with the country's banking system (https://www.youtube.com/watch?v=4MrkxzinM98), that is after last year's banking crisis which we thought was already solved. I am just wondering...will the decline of USA can also be a factor for the rise of the price of Bitcoin?