Arthur Hayes, creator of BitMEX and well-known cryptocurrency supporter, has reiterated his trust in Bitcoin (BTC) as the leading cryptocurrency and has released another significant positive price forecast. Arthur Hayes addressed the present problems of the New York Community Bank (NYCB), which is in danger of failing, on his official X account.
The bank has encountered considerable challenges recently, and current signs suggest that it may shortly file for bankruptcy. According to Bloomberg, which Hayes posted the photo of, credit rating company Moody’s has reduced NYCB’s credit grade to “junk.”
Arthur Hayes went on to say that the financial institutions who purportedly bought the cryptocurrency-focused Signature Bank when it collapsed last year could be facing bankruptcy at this moment. The problems facing NYCB, in Arthur Hayes’ opinion, are characteristic of the banking industry as a whole, whose existing monetary structures he considers to be mostly unsustainable.
Based on the current banking crisis, Arthur Hayes believes that Bitcoin is the only way out, as the Federal Reserve could try to avert disaster by printing more money. Hayes has consistently argued that this would cause other financial crises that will benefit Bitcoin.
Bitcoin price to $1 million club
In his piece, Arthur Hayes expressed his belief that Bitcoin has the potential to reach $1 million in value, which is regarded as one of his most audacious predictions for the coin to date.
Nonetheless, Samson Mow is regarded as the leading proponent of this enormous price objective, thus Arthur Hayes is not the only one who has this enormous prediction. Samson Mow is just as outspoken as Hayes, but he views the spot Bitcoin ETF market and the impending halving as the asset’s biggest drivers, whereas Hayes thinks economic uncertainty will support Bitcoin’s development.
Cathie Wood of Ark Invest also made some quite optimistic predictions.
