Arthur Hayes, co-founder of BitMEX and prominent crypto investor, on Tuesday reaffirmed his bullish outlook on Bitcoin (CRYPTO: BTC), stating that the cryptocurrency’s lowest point for 2025 is unlikely to dip below $70,000.
He also reiterated his long-term target of $1 million per Bitcoin, a forecast he insists remains intact despite recent market turbulence.
What Happened: In a blog post on Monday, Hayes stated, “The bottom at worst will be the previous cycle’s all-time high of $70,000.”
Despite acknowledging potential short-term dips, he maintained that Bitcoin is in the midst of a broader bull cycle, driven by a confluence of economic factors, including government debt financing and global liquidity issues.
“Bitcoin will bottom first and then start rising as the fiat financial system, led by U.S. stocks, plays catch-up,” Hayes explained.
Hayes’ analysis reflects his confidence …
