BitMEX Founder Arthur Hayes Touted a Prolonged Bitcoin Rally Following the Initial Surge Attributed to Donald Trump's Election Victory

Hayes pointed out that this early boost reflects crypto users' optimism about Trump's support for the industry. However, he believes U.S. macroeconomic policies will play a larger role in sustaining the bull run.

BitMEX founder Arthur Hayes has predicted a sustained Bitcoin rally despite the initial surge being attributed to Donald Trump’s election victory.

Hayes pointed out that the early boost in crypto prices is largely due to crypto users’ optimism about Trump’s stance on the crypto industry. However, he believes that U.S. macroeconomic policies will play a bigger role in continuing the bull run.

Appearing on a Youtube podcast, Hayes stated that the crypto market’s bullish trend is not dependent on the presidency. Instead, a key factor that can push crypto prices higher is the monetary decision requiring the U.S. government to print more money starting 2025.

Elaborating on his position, Hayes said that the government will print trillions of dollars to cater to the defense industry and the healthcare of many Americans. So, even if Kamala Harris had won the election ahead of Trump, the government would still print money, which will positively impact the crypto market.

Bitcoin Leads 2024 Rally as Altcoin Listings Lag Behind

Hayes observed that Bitcoin is leading the current rally, with Solana being one of the few altcoins to have had the same positive gains. The BitMEX founder believes this is due to the type of projects listed in this cycle. According to him, VCs fund most projects, putting pressure on them to list on centralized exchanges at a high FDV with a low circulating supply.

This makes the listed tokens expensive and hard for retail investors to make gains from them. Hayes pointed out that most of the tokens listed in 2024 were down by 40% and above, making them unattractive for the retail investor and leading to the common belief that the bull run has not started.

Meanwhile, Hayes predicts that this trend will continue, with only Bitcoin and a few top altcoins performing well in the upcoming bull run. He believes upcoming founders can reverse the situation by lowering their assets’ prices and not giving so many tokens to the crypto exchanges.

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