Arthur Hayes Predicts Trump’s Impact on the Crypto Market – BitRss

Arthur Hayes, the founder of BitMEX, suggests that Donald Trump’s potential victory in the 2024 elections could significantly influence the cryptocurrency market. He believes the market will initially feel Trump’s supportive effects but may subsequently experience a sharp decline. Hayes warns that while Trump’s re-election may generate optimism, this sentiment might not last long.

Trump’s Presidency and Market Expectations

News of Trump’s potential re-election in November has sparked enthusiasm in the cryptocurrency market. Bitcoin $101,316 surged past $107,000, reaching an all-time high. This increase was fueled by the possibility of the United States establishing a Bitcoin reserve. However, despite this optimism, the market could not sustain the positive momentum.