BitMEX Founder Arthur Hayes Predicts Bitcoin To Reach $1 Million Within 2-3 Year

[dansus021]

I mean it is okay to imagine and has speculation but $1 Million in 3 Years that's seems impossible to reach. I mean most of the guys out there will predict bitcoin will reach 100k for now to achieve 100K we need break a dozen of major resistance but this still possible in my opinion. $1 Million dollar yes is still achievable if there lot of government using legal tender and make it lot of use case from it.

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[mv1986]

It is a double-edged sword when someone running a huge crypto trading company talks about crypto prices. He is entitled to do that like anyone else of course, but whether we like it or not, there is still a significant speculative element in the assessment of cryptocurrency prices. The utility is there, but when does it enfold its full potential and why? Is it triggered by more and more banks failing? By people losing trust in fiat? By a war or something else?

It is still a bit different when someone running a software company says that software will be successful. There is still a speculative element, but it is less complex and less dependent on external factors. Software from Microsoft or hardware from Apple like the iPhone was a natural evolution retrospectively. Bitcoin can be, too, but its success (or the speed of its success) depends on authoritative top-down decisions oppressing peoples' freedom who then seek for alternatives.

To some degree Bitcoin suffers from similar mistrust like fiat money due to crypto businesses handling multi-billion dollar deposits even worse than banks, like in the case of Sam Bankman-Fried. That does indeed need more control, in a best case scenario with the help of decentralized solutions. But building that infrastructure and gaining critical mass for new applications to work on a global scale takes time.

[Z390]

I've never seen anything this impossible to achieve, Bitcoin trading for $ 1 million is ridiculous, and this is not the first time that some set of people will predict something this stupid and deceiving, do not plan to sell only when Bitcoin reach 1 million, this was the same mistake that some investors made in past bull season, they kept waiting for 100k bitcoin before selling and it never happened.

[Negotiation]

In fact, it is very difficult to make futures because the crypto market is not stable but investors could benefit greatly from bitcoin's promising future. Bitcoin will grow a lot in 2 to 3 years but no one can say whether it will reach $1 million or not. BitMEX founder arthur hayes predicted and many traders accept this prediction as truth marketers usually provide a lot of information but not all of it is useful.

[retreat]

1 million per bitcoin is way too optimistic. I am sure Arthur has some good reasons to think of such a number but for me, it is way to expensive and this price per bitcoin is not justified at all. If this happens then the market cap of bitcoin will reach trillions of dollars which seems next to impossible.

I can bet for 100k per bitcoin in next 5-7 years horizon but 1 million is not possible. Probably in next 25 - 30 years, we will see that but surely not in next 2-3 years timeline like Arthur says.

I also think so, that's too optimistic, especially in 2-3 years I don't think it will be possible. Even to reach 50K in the next 2 years is very good in my opinion, we don't need to be too exaggerated in dreaming that Bitcoin will reach 1M USD in the next few years, because seeing the current economic conditions and the government which continues to discredit the crypto market, it will be difficult or almost impossible for Bitcoin to reach 1M USD price.

[fzkto]

1 million per bitcoin is way too optimistic. I am sure Arthur has some good reasons to think of such a number but for me, it is way to expensive and this price per bitcoin is not justified at all. If this happens then the market cap of bitcoin will reach trillions of dollars which seems next to impossible.

I can bet for 100k per bitcoin in next 5-7 years horizon but 1 million is not possible. Probably in next 25 - 30 years, we will see that but surely not in next 2-3 years timeline like Arthur says.

I also think so, that's too optimistic, especially in 2-3 years I don't think it will be possible. Even to reach 50K in the next 2 years is very good in my opinion, we don't need to be too exaggerated in dreaming that Bitcoin will reach 1M USD in the next few years, because seeing the current economic conditions and the government which continues to discredit the crypto market, it will be difficult or almost impossible for Bitcoin to reach 1M USD price.

Maybe 1 million is someone's fantasy or dream, but why can't bitcoin be worth 50k or 100k in a few years? Next year there will be another halving, which has been the growth driver for bitcoin until now. The statistics so far are 100% that there has been an increase in price after that. I think the next halving will not be an exception.

[mv1986]

1 million per bitcoin is way too optimistic. I am sure Arthur has some good reasons to think of such a number but for me, it is way to expensive and this price per bitcoin is not justified at all. If this happens then the market cap of bitcoin will reach trillions of dollars which seems next to impossible.

I can bet for 100k per bitcoin in next 5-7 years horizon but 1 million is not possible. Probably in next 25 - 30 years, we will see that but surely not in next 2-3 years timeline like Arthur says.

I also think so, that's too optimistic, especially in 2-3 years I don't think it will be possible. Even to reach 50K in the next 2 years is very good in my opinion, we don't need to be too exaggerated in dreaming that Bitcoin will reach 1M USD in the next few years, because seeing the current economic conditions and the government which continues to discredit the crypto market, it will be difficult or almost impossible for Bitcoin to reach 1M USD price.

Maybe 1 million is someone's fantasy or dream, but why can't bitcoin be worth 50k or 100k in a few years? Next year there will be another halving, which has been the growth driver for bitcoin until now. The statistics so far are 100% that there has been an increase in price after that. I think the next halving will not be an exception.

It comes a bit across as if Arthur Hayes is playing the game of fake it till you make it. The more often people hear in public that Bitcoin will go to a million, the more this "million mark" becomes sort of a Shelling point. Whether it makes sense or not doesn't matter, but it has to do with behavioral economics and the herd. That doesn't mean it will reach 1 million, but it is more likely to go towards 1 million than if Hayes and all the others out there would be talking about 100k. For them it is aim high and sell way below that aim and let the rest crash.

[adaseb]

$50k or $100k in a few years is realistic. Something like $1,000,000 especially in 3 months simply is not.

Only way that will happen is maybe some illiquid short squeeze on the weekend or we are in a hyper inflation state and everything will be in chaos which obviously you don’t want. It would set us back to the stone ages pretty much. Which I obviously don’t think will happen.