Former BitMEX CEO, Arthur Hayes, predicts a dramatic rally for Bitcoin despite recent market turbulence.
Hayes believes Bitcoin is undervalued and will experience a steady upward trajectory due to increasing monetary supply and growing demand.
He suggests that Bitcoin could hit a numerically interesting number such as $666,000 or $500,000, but major milestones may signal the peak of this market cycle.
Hayes highlights the evolving influence of the Bitcoin halving and the growing institutional support as factors behind his bullish outlook on Bitcoin.