BitMEX co-founder Arthur Hayes says his prediction of a 2,222% Bitcoin (BTC) gain remains on track after the Federal Reserve indicated rate cuts next year.

The Fed’s decision on Wednesday creates a more favorable macroeconomic landscape for risk-on assets like Bitcoin, according to Hayes.

“At this point, there is no excuse not to be long crypto. How many more times must they tell you that the fiat in your pocket is a filthy piece of trash. Believe in the Lord, and he shall set you free.

BTC = $1 million.

Yachtzee!”

Earlier this month, Hayes suggested that rate cuts would trigger a massive rally for Bitcoin.

“It’s December and I don’t know about you but I’m ready for an old white man to give me some gifts. JAYPOW [chair of the Federal Reserve Jerome Powell] cut the f*cking rates and send BTC to Da Moon!”

Hayes previously said that looser monetary policy by the Fed would be one key reason to turn bullish on Bitcoin.

Bitcoin is trading for $43,058 at time of writing, up slightly in the last 24 hours.

He is also predicting that Ethereum (ETH) competitor Solana (SOL) will continue to soar more than 32% from its current value.

“SOL = $100.”

Source: Arthur Hayes/X

Solana is trading for $75.35 at time of writing, up 7.7% in the last 24 hours.

Generated Image: DALLE3

The post Arthur Hayes Doubles Down on $1,000,000 Bitcoin Prediction Following Shift in US Macroeconomic Landscape appeared first on Crypto News Australia.

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Filed under: Bitcoin - @ December 15, 2023 1:23 pm