BitMEX founder Arthur Hayes forecasts that the end of the current crypto bear market will pave the way for the biggest bull cycle in human history.
Arthur Hayes, the co-founder of crypto exchange BitMEX, has made an audacious prediction for the next bull run.
Biggest Bull Market in Human History
In his latest essay dubbed “Double Happiness,” Hayes speculated that the end of the current crypto bear market will pave the way for the biggest bull cycle in human history.
“We are about to witness the biggest bull market in human history driven by the most amount of money printed in the shortest amount of time, and the coming of AI,” he said.
"Double Happiness" is my final AI + #crypto essay. It argues we are about to witness the biggest bull market in human history driven by the most amount of money printed in the shortest amount of time, and the coming of AI.
My shitcoin of choice $FILhttps://t.co/fk0C7WNnxY pic.twitter.com/VHpMrxcIyW
— Arthur Hayes (@CryptoHayes) October 5, 2023
According to Hayes, the upcoming bull market will be driven by two prominent factors – the commercialization of artificial intelligence (AI) and the explosion of fiat liquidity.
He stressed that previous crypto bull markets resulted from either a surge in fiat liquidity or the rise of different aspects of blockchain technology. However, he opined that both factors have not concurrently driven a bull market in the past.
“A bull market in fiat liquidity and technology will produce Double Happiness for the faithfuls’ portfolios,” Hayes added.
Furthermore, he emphasized the importance of decentralized storage systems for artificial intelligence. Per Hayes, AI’s reliance on secure and censorship-resistant data storage highlights the importance of decentralized solutions.
Hayes Picks Filecoin as Best Bet for Next Bull Market
Consequently, Hayes identified decentralized data storage networks powered by Filecoin (FIL) as the perfect choice for the burgeoning AI economy.
In the essay, the BitMEX co-founder pointed out that FIL has been tradable on major exchanges since 2020. Although the coin surged to an all-time high (ATH) of $236.84 in April 2021, it has slumped 98.21% to $3.27.
Despite FIL’s underperformance in the past two years, Hayes still believes the coin’s value will surge tremendously in the next bull run.
Hayes noted that while some people may believe his prediction for the next bull run will not materialize like others, he asserts that he trades cycles and not one-hour candles.
“I trade cycles, and I am focused on the 2023-2026 cycle. As such, I have no problem being wrong right now as long as I’m right later,” Hayes added.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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