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Crypto Market Rally: BitMEX’s Arthur Hayes Explains Why “It’s Time To Pump” Bitcoin

Crypto market rally: BitMEX co-founder Arthur Hayes predicts a massive Bitcoin rally ahead of halving as US Fed pivot.
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Crypto Market Rally: BitMEX’s Arthur Hayes Explains Why “It’s Time To Pump” Bitcoin

BitMEX co-founder Arthur Hayes has been bullish on Bitcoin in the last few months and recommended the crypto community to buy the dip when BTC price was trading under $25,000. Bitcoin is up 75% this year and the U.S. Fed Reserve pivot confirms a massive pre-halving rally, the crypto market awaited after the most devastating bear market crypto community has ever seen.

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Arthur Hayes Predicts Massive Bitcoin Price Rally

In response to a possible U.S. Federal Reserve pivot, Arthur Hayes, co-founder of BitMEX, in an X post on November 2 said “Guess it’s time to pump financial assets. Over to you BTC, LFG!”

The U.S. Fed kept interest rates unchanged at 5.25% to 5.50% in the FOMC meeting on Wednesday. Fed Chair Jerome Powell said, “slowing down is giving us, I think, a better sense of how much more we need to do, if we need to do more.” However, the probability of a rate hike in December remains.

But every measure of inflation is above the Fed target of 2%, with the Fed’s preferred gauge to measure inflation annual core PCE cooling to 3.7%.

Arthur Hayes suggests it’s time to focus on Bitcoin and other crypto from treasury bills. As the Fed paused for two consecutive months, other central banks have cover to print money. He expects massive stimulus from China, Europe, and Japan amid the Fed’s dovish approach.

“Money Printer Go Brrrr!!!”

Also Read: BTC, SOL Price Jumps Despite US Fed Chair Warning On December Rate Hike

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Bitcoin and Other Crypto Rally

Adding on to the positive momentum of October, BTC price hit a year-high of $35,919. Bitcoin is currently trading at $35,193 due to profit booking by traders.

Meanwhile, SOL price soared 13% in the 24 hours, with other top crypto including ETH, XRP, ADA, and DOGE also picking up bullish momentum.

Also Read: Ethereum Network Growth Shoots With New Addresses, ETH Price to $2000?

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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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