Is Bitcoin about to rip? Arthur Hayes thinks so, estimating that the top cryptocurrency’s price will rally to $250,000 by the end of the year.

A version of this story appeared in our The Roundup newsletter on March 21. Sign up here. Happy Friday! Eric here.

A version of this story appeared in our The Roundup newsletter on March 21. Sign up here.

Happy Friday! Eric here.

Is Bitcoin (BTC) about to rip?

Arthur Hayes, the chief investment officer at Maelstrom, thinks so, estimating that the top cryptocurrency’s price will rally to $250,000 by the year end.

And he’s even more confident after Federal Reserve Chair Jerome Powell signalled that the central bank will allow more liquidity to flow through the American economy. '+'Stay nimble and cashed up,' Hayes advised in a tweet.

His bullishness comes at a challenging time for the crypto industry.

Donald Trump’s zig-zagging tariff policies continue to rattle markets — the total crypto market is down 21% since the president’s inauguration. The S&P 500 and the Nasdaq 100 indexes are down about 6% and 9%, respectively, in that time.

Not even Ripple’s (XRP) victory against the Securities and Exchange Commission, nor the president’s speech at the Digital Asset Summit shook markets out of their rut.

But Hayes' argument is that Trump’s policies are designed to spark recession fears and force the Fed to devalue the dollar and unleash a wave of liquidity into the market. A top economist even suggests that Bitcoin could play a role in dethroning the dollar.

“They’re going to reflate and print more money than anyone’s ever printed before,” Hayes said earlier in March.

That’s bullish for Bitcoin — more money in the market means more cash to inject into risk assets like crypto and tech stocks.

Not everyone’s convinced.

“Every onchain metric signals a bear market,” said Ki Young Ju, the CEO of CryptoQuant, a crypto analytics firm.

Earlier in the week, he predicted that there will be six to 12 months of bearish or sideways price action.

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Post of the Week

The Solana Foundation may have taken down its ad, but that didn’t stop the memes from piling on.