BlockBeats report, May 12: BitMEX co-founder Arthur Hayes, in his latest article "The Butterfly Touch," stated that USD and CNY liquidity is expected to continue rising, benefiting Bitcoin and cryptocurrencies.
Bitcoin hit a low of $60,000 earlier this year, and with the tailwind of trillions of dollars and renminbi set to be created, reclaiming $126,000 is all but certain. Many skeptics will refuse to participate in this Bitcoin rally because it has significantly underperformed tech stocks and gold over the past 24 months. Many fail to understand why Bitcoin still matters as a hedge against reckless money printing. But it will demonstrate its sensitivity to fiat liquidity expansion.
Hayes said he expects the rally to intensify, as many put sellers will rush to cover their positions after Bitcoin breaks above $90,000, causing the price trajectory to become explosive. He has no idea how high Bitcoin could go, but will maximize Maelstrom’s portfolio risk unless any drastic changes occur.
As we approach the mid-term elections in November, U.S. politics is expected to take a very hostile stance toward AI and inflation. This could be a minor speed bump in the rally. Now is the time to start investing in altcoins—beyond Hyperliquid ($HYPE) and Zcash ($ZEC), its next favorite altcoin is NEAR. The rationale will be detailed in the next article: how combining privacy narratives with NEAR’s intent to generate positive cash flow for the protocol will reverse the token’s disastrous price performance and create an opportunity to profit significantly as the token rapidly rallies toward its multi-year all-time highs. It’s a bull market—close your eyes and hit the button. There will be a time to sell, but not now.