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Former CEO of Bitmex, Arthur Hayes, has predicted the coming of a bitcoin bull market in the last two quarters of 2023. In his latest article titled “Patience is Beautiful,”, Hayes emphasized the importance of patience for investors, explaining that the U.S. Federal Reserve will be unable to control inflation as the U.S. debt will lose its appeal for foreign investors due to sanctions.
Hayes predicts that the global economy is heading towards a destination that is clear, despite possible changes due to interference. He stated, “Money printing, yield curve control, bank failures, etc. will all come to pass, starting in America and eventually spreading to all major fiat monetary systems.” Based on this, Hayes believes that the real bitcoin bull market will begin in the late third to early fourth quarter of 2023.
Hayes also outlined the ingredients that will cause this thriving new era for bitcoin. He mentioned the bounce of inflation numbers, which he considers misleading, and the subsequent increase in interest rates as the national debt loses its appeal for foreigners. He predicts that the U.S. Federal Reserve will fail to reach its target and will keep increasing rates to continue fighting the resurgence of core inflation, which according to Hayes, will rise from 4.81% in September to 5.37% in December.
Hayes also believes that this will impact the banking system, with deposits fleeing from small and medium-sized financial institutions to what he calls “too big to fail” banks. Deposits will also go to money market funds to receive higher yields. Additionally, foreign countries will have less interest in investing in U.S. debt, fearing the economic sanctions already in effect against Russia. Hayes declared that foreign holders of USTs cannot be sure they will be allowed to access their wealth when needed, as property rights are dependent on whether they are friends or foes of the ruling politicians of Pax Americana.
Hayes concludes his article by assuring investors that “when the printer goes brrr, bitcoin goes boom.” He suggests that patience is crucial for investors to reap the benefits of the upcoming bitcoin bull market and advises them to avoid making impulsive decisions given the volatility of the crypto market.