The post Bitcoin May Approach $1 Million Amid Expectations of Major Stimulus Under Trump, Says BitMEX Founder appeared on BitcoinEthereumNews.com.

Arthur Hayes forecasts Bitcoin could reach $1 million, driven by a significant influx of fiat currency under anticipated economic policies from Donald Trump. This bullish perspective arises from expectations of extensive stimulus measures that may lead to a surge in demand for Bitcoin as a refuge asset. In his recent blog post, Hayes emphasized, “This is how Bitcoin goes to $1 million,” highlighting historical correlations between bank credit expansions and Bitcoin price increases. Arthur Hayes predicts Bitcoin may surge to $1 million due to anticipated massive stimulus under Trump, setting the stage for unprecedented demand. Bitcoin’s Potential Surge Amid Economic Shifts In the fast-evolving landscape of cryptocurrency, Bitcoin’s trajectory towards $1 million appears increasingly plausible, particularly with the potential economic interventions from President-elect Donald Trump. Hayes articulates that these policies are likely to lead to the most substantial monetary expansion in history, creating a situation where more fiat money will be chasing a dwindling supply of Bitcoin. Economic Policies and Their Impact on Cryptocurrency As numerous analysts suggest, the influx of government spending and quantitative easing could substantially inflate asset prices, including cryptocurrencies. The expectation is that a possible $10.5 trillion in stimulus spending could catalyze a significant upward trend in Bitcoin’s value, reminiscent of its previous rallies. Historical data shows that Bitcoin surged dramatically during past major expansions of bank credit, notably rising from $3,800 to over $67,000 during the Covid-related economic stimulus period. Broader Market Implications Drawing insights from recent market movements, the cryptocurrency sector is experiencing notable fluctuations. Bitcoin has increased by 4.9% in the last 24 hours, reflecting the overall bullish sentiment among investors as they speculate on future price stability and growth. Alongside Bitcoin, Ethereum also remains resilient, showing a 1% increase, which underscores the broader positive momentum in the crypto market. Investors Eyeing Regulatory…

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Filed under: News - @ November 13, 2024 8:28 pm