“Get ready for BTC at $1M,” Hayes wrote in a tweet on Monday, referencing the broader macroeconomic picture of inflation and pointing to the fact that the euro and dollar hit parity for the first time in 20 years. However, she said traders will need to be “patient” as reaching the price quote could “take some time”.
The businessman reiterated his bullish forecast, as his comment was echoed in a blog post from April. In that post, Hayes had provided a full breakdown of how the leading cryptocurrency would hit the $1 million record in eight years, a potential rise of over 2,500% relative to its current price.
Entitled “The Doom Loop” or “The loop of doom“, the entry shared a pessimistic view for the future of the economies of the United States and especially the European Union due to the armed conflict between Russia and Ukraine and supply difficulties of food and gas that this has caused
Hayes anticipates a shift in geopolitics and economics that could work against both China and Western democracies. These ongoing geopolitical tensions further exacerbate already high rates of economic inflation.
But for the guru, central banks will have no choice but to resort to Yield Curve Control (YCC), a strategy to avoid bankruptcy, which will ultimately be a turning point for Bitcoin. “YCC is the end game,” the former CEO had written in his blog post. “YCC is how we got to USD$1 million for Bitcoin”, according to the Diariobitcoin portal.
This turn would not only benefit Bitcoin, due to a new culture of saving in cryptocurrencies while waiting for a bull market, but also gold.
Hayes is not the first to estimate the future of Bitcoin at $1 million. Ark Invest’s Cathie Wood and Mike Novogratz have also made the bold $1 million prediction for Bitcoin. A few days ago, billionaire venture capitalist Tim Draper somewhat agreed with Hayes when he said that people could run away from the US dollar and turn to Bitcoin.
Source: Ambito
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