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According to BitMEX co-founder Arthur Hayes, Bitcoin (BTC) is poised to surpass its prior peak. Hayes anticipates a robust surge for the flagship cryptocurrency in response to Federal Reserve Chair Jerome Powell’s recent announcement to slow the rate of quantitative tightening (QT) by April 1.
Hayes expressed his opinions on the social media site X, arguing that the next cryptocurrency boom would be sparked by the Fed’s possible switch from QT to QE. Increased market liquidity and asset appreciation are common outcomes of quantitative easing (QE), in which central banks buy financial assets to infuse money into the economy.
“I bet BTC hits $110,000 before it retests $76,500,” Hayes stated. “The Fed is going from QT to QE for Treasuries. And tariffs don’t matter cause ‘transitory inflation.’ [Jerome Powell] told me so.”
Bitcoin currently trades at $87,641. Hayes remains optimistic that the price will climb to $110,000 before facing any significant corrections.
In addition, Hayes expressed his optimism about Ethereum (ETH), predicting that it will touch $5,000 before Solana (SOL) reaches $300. Before SOL dropped below $300, ETH rose to $5,000. “With whom am I?” he wrote.
Solana is currently trading at $144, while Ethereum, the second-largest cryptocurrency by market capitalization, is currently priced at $2,068, as well. Hayes has faith in Ethereum because of its well-established network, wide range of applications, and ongoing leadership in the decentralized finance (DeFi) market.
His forecasts are in line with the opinions of many cryptocurrency aficionados, who see the Fed’s policy moves as a springboard for fresh positive activity in the markets for digital assets.
With the Fed’s easing measures potentially increasing liquidity, both Bitcoin and Ethereum could benefit from heightened investor interest. If Hayes’s forecast proves accurate, Bitcoin’s rally to $110,000 and Ethereum’s rise to $5,000 may mark the beginning of another significant bull market.
At time of writing, Bitcoin is trading for $88,003.