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BitMEX cofounder and renowned crypto advocate Arthur Hayes has come up with another major bullish Bitcoin (BTC) price prediction as he once again doubled down on his belief in the top cryptocurrency. Taking to his official X account, Arthur Hayes commented on the current woes of New York Community Bank (NYCB), which is on the brink of collapse.
The bank has been facing significant headwinds in recent times, with current indications pointing to the possibility of it going bankrupt soon. In the screenshot shared by Hayes, Bloomberg reported that credit rating agency Moody’s has downgraded NYCB’s credit grade to "junk."
Arthur Hayes then predicted that, from this point, the next call might be bankruptcy for the financial institutions that reportedly served as the acquirer of the crypto-focused Signature Bank when the latter imploded last year. To Arthur Hayes, the woes of NYCB are typical of the general banking sector, whose current monetary models he believes are largely unsustainable.
Drawing on this banking crisis, Arthur Hayes considers Bitcoin the only solution, as the Federal Reserve may print more money in an attempt to save the day. This, Hayes has always advocated will lead to more financial crises that will favor Bitcoin.
Bitcoin price to $1 million club
As part of his post, Arthur Hayes now believes Bitcoin has what it takes to soar to $1 million, a projection that is considered one of his most ambitious for the coin to date.
However, Arthur Hayes is not alone in holding this mega forecast as Samson Mow is known as the biggest advocate of this mega price target. Samson Mow is as vocal as Hayes, but while the latter believes economic uncertainties will bolster Bitcoin’s growth, the former considers the spot Bitcoin ETF market and the coming halving as the strongest catalysts for the asset.
Other impressively bullish forecasts also came from Ark Invest’s Cathie Wood.
Arman Shirinyan
Alex Dovbnya
