Arthur Hayes, co-founder of BitMEX, has offered an optimistic forecast for the cryptocurrency markets, suggesting that current global political dynamics are driving an extended bull run. In a November 3 interview with Coin Bureau, Hayes noted that governments are bolstering public spending without raising taxes, resulting in rapidly increasing liquidity. He believes this process could signal a robust bullish phase continuing into 2027–2028.
Increasing Liquidity Overshadows Bitcoin Halving Cycles
Hayes argues that the traditional impact of Bitcoin’s halving cycles, once a primary determinant of its price, has diminished. He attributes the markets’ direction to global capital flows rather than supply constraints. Governments aiming to maintain economic growth are opting to support systems through borrowing and monetary expansion, creating a new foundation for cryptocurrencies. This abundance of structural liquidity prompts both individual and institutional investors to gravitate towards digital assets.
Hayes emphasizes that instead of experiencing the sharp corrections typically observed in Bitcoin’s historical cycles, the market is now dominated by liquidity-driven expansive waves. He advises investors to correctly interpret this shift, noting that halving is no longer the sole factor influencing prices. Instead, the global financial system’s trend towards monetary policy easing plays a significant role in shaping the direction.
Hayes’ Strong Bullish Outlook for 2027–2028
Hayes underlines that current market dynamics support a powerful rally in the long term. He highlights that rising inflation and low-interest environments are steering investors towards rare digital assets like Bitcoin as a hedge against inflation. Policymakers’ “spend without tax increase” approach is expanding the global money supply, bringing risk assets to the forefront once again.
Hayes predicts that the cryptocurrency market is on course for a “blow-off top,” or extreme bull phase, extending into the 2027–2028 period. He suggests that this phase might coincide with disruptions in traditional markets. According to him, investors should maintain their long-term perspective amid the anticipated increase in volatility during this period.