Arthur Hayes: Risky assets like bitcoin will go up and down

The former CEO of cryptocurrency exchange BitMEX has given his views on bitcoin’s bull rally and predicted further growth for the world’s first cryptocurrency.

“Risk assets like BTC and the rest of cryptocurrencies will continue to rise steadily,” Arthur Hayes wrote on social network X (Twitter).

The former CEO of a crypto exchange pointed out to subscribers: since the beginning of November, there has been a significant injection of liquidity into the U.S. financial market of nearly $200 billion. According to the expert, this indicates a fall in the reverse repo balance (RRP), while the balance of the general treasury account (TGA) remains unchanged – and this is good for the crypto market. Such an influx of liquidity in principle helps risky assets, Hayes believes.

The day before, the former head of BitMEX made a more specific prediction for bitcoin – that the cryptocurrency would rise to $1 million. 

Hayes believes that institutional investor interest in bitcoin could “foreshadow a situation that we ultimately don’t like”