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Bitcoin (BTC<\/a>) faces a \u201ctrigger\u201d moment which keeps a $1 million BTC price tag in play, one of its household names says.<\/p>\n In a blog post titled \u201cThe Periphery<\/a>\u201d released on Oct. 24, Arthur Hayes, former CEO of crypto exchange BitMEX, said that Bitcoin is already warning markets about the future.<\/p>\n With the United States increasingly invested in two new wars, the risk of escalation worldwide is growing, Hayes believes.<\/p>\n The timing is conspicuous \u2014 the U.S. Federal Reserve faces persisting inflation but has halted interest rate hikes, and a so-called \u201cbear steepener<\/a>\u201d looms for the economy.<\/p>\n \u201cThe structural hedging needs of banks and the borrowing needs of the US war machine reflexively feed on one another in the US Treasury market,\u201d he wrote. <\/p>\n \u201cIf long-term US Treasury bonds offer no safety for investors, then their money will seek out alternatives. Gold, and most importantly, Bitcoin, will begin rising on true fears of global wartime inflation.\u201d<\/p><\/blockquote>\n The writing is already on the wall. BTC\/USD is up 15% this week, and the gains followed U.S. President Joe Biden\u2019s address to the nation<\/a> on the Ukraine and Israel wars.<\/p>\n Now, the blog post reiterates, \u201cdirectly after the Biden speech, Bitcoin \u2013 along with gold \u2013 is rallying against a backdrop of an aggressive selloff in long-end US Treasuries.\u201d <\/p>\n \u201cThis isn\u2019t speculation as to an ETF being approved \u2013 this is Bitcoin discounting a future, very inflationary global world war situation,\u201d it continues. <\/p>\n Hayes is well known for his predictions<\/a> of how global economics will play out post COVID-19 and subsequent inflationary era.<\/p>\n As part of the knock-on effects for Bitcoin, a $1 million BTC price tag is in play<\/a> \u2014 something repeated on social media this week. This will come as a result of so-called yield curve control (YCC) \u2014 the ultimate move in controlled economics already beginning to rear its head in Japan.<\/p>\n The bond vigilantes are yelling \u201cdown with the dollar.\u201d <\/p>\n Look out for my spicy essay \u201cThe Periphery\u201d dropping this week where I discuss the Hamas vs. Israel war, the US Treasury market, and $BTC<\/a>. <\/p>\n YCC = $1mm $BTC<\/a> is in full effect. <\/p>\n Yachtzee!!! pic.twitter.com\/1ABcW1esaf<\/a><\/p>\n \u2014 Arthur Hayes (@CryptoHayes) October 23, 2023<\/a><\/p><\/blockquote>\n \u201cAnd the end game, when yields get too high, is for the Fed to end all pretence that the US Treasury market is a free market. Rather, it will become what it truly is: a Potemkin village where the Fed fixes the level of interest at politically expedient levels,\u201d \u201cThe Periphery\u201d meanwhile concludes.<\/p>\n \u201cOnce everyone realises the game we are playing, the Bitcoin and crypto bull market will be in full swing. This is the trigger, and it\u2019s time to start rotating out of short-term US Treasury bills and into crypto.\u201d<\/p><\/blockquote>\n As Cointelegraph reported, macro concerns are becoming ever more vocal this quarter thanks to the increasing presence of war.<\/p>\n Related:\u00a0BTC price nears 2023 highs \u2014 5 things to know in Bitcoin this week<\/a><\/em><\/strong><\/p>\n Billionaire investor Ray Dalio, founder of world\u2019s largest hedge fund Bridgewater Associates, recently put the odds<\/a> of a \u201cWorld War III\u201d scenario developing at 50%.<\/p>\n “I hope that the leaders of the great powers will wisely step back from the brink, even while they must prepare to be strong enough to successfully fight and win a hot war,” he wrote in a LinkedIn post<\/a> on Oct. 12. <\/p>\n “In my opinion, for this to go well not only will the restraint of the participants be tested, but alliances that are prone to draw in non-fighting parties will also be tested. That is because being allied and helpful to the allied countries in these brutal wars is always very costly and raises the risks of being drawn fully into the war. That\u2019s how local wars spread into world wars.”<\/p><\/blockquote>\n Combined with buzz over an ETF approval<\/a>, Bitcoin is up 27% this October, and over 100% year-to-date, per data<\/a> from monitoring resource CoinGlass.<\/p>\n This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Bitcoin (BTC) faces a \u201ctrigger\u201d moment which keeps a $1 million BTC price tag in play, one of its household names says. In a blog post titled \u201cThe Periphery\u201d released on Oct. 24, Arthur Hayes, former CEO of crypto exchange BitMEX, said that Bitcoin is already warning markets about the future. “Global wartime inflation” to […]<\/p>\n","protected":false},"author":2,"featured_media":180670,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-180669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=180669"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180669\/revisions"}],"predecessor-version":[{"id":180672,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180669\/revisions\/180672"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/180670"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=180669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=180669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=180669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}“Global wartime inflation” to drive Bitcoin, gold price<\/h2>\n
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Dalio warns of “very costly” choices<\/h2>\n