BitMEX co-founder and renowned cryptocurrency advocate Arthur Hayes has come up with another major bullish Bitcoin (BTC) price prediction, once again doubling down on his confidence in the top cryptocurrency. On his official account X, Arthur Hayes commented on the current problems of the New York Community Bank (NYCB), which is on the verge of collapse.
The bank has faced significant difficulties in recent times and current indications point to the possibility that it will soon fail. In the screenshot shared by Hayes, Bloomberg reported that credit rating agency Moody’s downgraded NYCB’s credit grade to “junk.”
Arthur Hayes then predicted that, from this point on, the next call could be bankruptcy for the financial institutions that reportedly served as the buyer of the cryptocurrency-focused Signature Bank when the latter imploded last year . For Arthur Hayes, NYCB’s problems are typical of the banking sector in general, whose current monetary models, in his view, are largely unsustainable.
Based on this banking crisis, Arthur Hayes considers Bitcoin to be the only solution, as the Federal Reserve could print more money in an attempt to save the situation. This, Hayes has always argued, will lead to further financial crises that will favor Bitcoin.
The price of Bitcoin reaches the $1 million club
As part of his post, Arthur Hayes now believes that Bitcoin has what it takes to rise to $1 million, a projection that is considered one of his most ambitious for the coin to date.
However, Arthur Hayes is not alone in backing this mega prediction as Samson Mow is known as the biggest supporter of this mega price target. Samson Mow is as outspoken as Hayes, but while the latter believes economic uncertainties will support Bitcoin’s growth, the former sees the spot market for Bitcoin ETFs and the upcoming halving as the strongest catalysts for the asset.
Other extraordinarily bullish predictions also came from Cathie Wood of Ark Invest.
