- BitMEX co-founder Arthur Hayes notes that Bitcoin ETFs and possible rate cuts will drive the market.
- Hayes predicts a rally for Ethereum based on the possible approval of a spot market ETF.
Arthur Hayes, one of the co-founders of BitMEX, recently pointed out two key factors that could drive Bitcoin (BTC) to unprecedented all-time highs.
Bitcoin ETFs and Potential Rate Cuts
One of the keys to this outlook is the recently launched Bitcoin exchange-traded funds (ETFs), which are accumulating the cryptocurrency significantly. This massive accumulation could generate notable upside momentum in the Bitcoin price, according to Hayes.
In addition, the possible initiation of rate cuts by the US Federal Reserve could add further fuel to this growth. According to CME Group’s FedWatch tool, the Fed is expected to begin the rate-cutting process starting in June.
Ethereum (ETH) Predictions
Hayes also highlights the potential for Ethereum (ETH) to experience a significant rally. This is based on the possibility of a spot market ETF being approved for this popular smart contract platform. This move could have a considerable impact on Ethereum’s price, propelling it to higher levels.
Attention on Altcoins Projects
In addition to Bitcoin and Ethereum, Hayes mentions that some altcoin projects could outperform these two cryptocurrencies in the current market. While hedoesn’t go into specific details about which projects could stand out, he suggests that investors should consider a broad spectrum of cryptocurrencies in their investment strategies.
Hayes’ Vision for the Future
Arthur Hayes has previously expressed his optimistic view on the growth of the cryptocurrency market in the coming years. He believes that the total market capitalization could reach astronomical figures, on the scale of trillions of dollars. This is due, in part, to innovation in artificial intelligence (AI) and looser monetary policy by the Federal Reserve.
Hayes sees a bright future for Bitcoin, Ethereum and the cryptocurrency market in general. With Bitcoin ETFs and possible rate cuts on the horizon, along with the potential for an Ethereum ETF, the outlook for cryptocurrencies is promising according to the BitMEX co-founder.
