The cryptocurrency market experienced a "Black Monday" yesterday (7th), with Bitcoin plummeting to a low of $74,501, and Ethereum dropping to $1,411, causing market-wide panic.
However, during the escalating market panic, legendary trader and BitMEX co-founder Arthur Hayes posted on social platform X last night, stating that he was continuously buying Bitcoin during the market downturn:
I have been buying Bitcoin in batches throughout the day and will continue to do so. Altcoins are also entering my buying range, but I believe Bitcoin's dominance will rise to 70%, so I won't make large-scale moves in Altcoins.
Remember, money printing will be the only remedy.
Hayes Predicts: Bitcoin to Surge to $250,000 by Year-End
Arthur Hayes published a long article titled 'The BBC' on the 1st of this month, describing the power struggle between Fed Chairman Powell and US Treasury Secretary Scott Bessent, and how fiscal policy drives monetary policy. He ultimately stated that Bitcoin is likely to rise to $250,000 by the end of the year:
I still believe Bitcoin can reach $250,000 before year-end because the BBC has now made Powell comply, and the Fed will flood the market with dollars. This allows Xi Jinping to instruct the People's Bank of China to stop tightening domestic monetary conditions to defend the USD-RMB exchange rate, increasing the net quantity of RMB.
Finally, Germany decides to establish an army again, paying with printed euros, and every other European country must build their own army with printed euros, because they fear a 1939 remix.
Standard Chartered: Bitcoin May Become a Hedge Against Tariff Risks
Additionally, Standard Chartered maintains an optimistic view of Bitcoin's future. According to The Block's report, Geoffrey Kendrick, Global Head of Digital Assets Research, analyzed that Trump's tariffs representing US isolationism continue to affect market sentiment, but Bitcoin might benefit and become a hedge against tariff risks:
There's a lot of noise right now, and I believe Bitcoin will become a tool to hedge tariff risks.
US isolationism will increase the risk of holding fiat currency, which will ultimately benefit Bitcoin.
Kendrick's analysis was published last Sunday (6th). He acknowledged market declines but pointed out that Bitcoin has outperformed stocks of several major US tech companies. Short-term market sell-offs may quickly dissipate, with Bitcoin's key support at $76,500, which was formed the day after Trump's election victory last year.
Currently, Bitcoin seems to have found support at this price level, but future performance largely depends on the impact of equivalent tariffs. Investors are advised to be cautious of volatility.
