Arthur Hayes: Bitcoin will rise to 1 million dollars in 2028, suggesting to "go long on everything"

PANews reported on April 30 that Arthur Hayes reiterated his optimistic forecast for the price of Bitcoin at the Token2049 conference in Dubai, believing that Bitcoin could rise to $1 million by 2028. Hayes noted that the U.S. will need to increase dollar liquidity, which is similar to quantitative easing, and will drive cryptocurrency prices up. He compared the similarities between the current market conditions and the third quarter of 2022, when the market was concerned about factors such as central bank interest rate hikes, but the U.S. injected $2.5 trillion through a repo program. Even though Fed Chair Jerome Powell may not intervene directly in the market, arbitrage hedge funds may indirectly drive the market recovery by buying Treasuries to increase liquidity, Hayes said. He advises investors to “go long everything,” including cryptocurrencies and stocks.