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Bitcoin (BTC) may cross $1m, says BitMEX Co-Founder Arthur Hayes. In an Impact Theory interview with Tom Bilyeu, Hayes cited Bitcoin’s fixed quantity of 21 million coins as a major driver of its value. He thinks that as the cryptocurrency becomes more scarce, more investors will get interested in it. Demand is anticipated to add up from individual traders as well as firms like BlackRock and MicroStrategy.
#Bitcoin history is exactly repeating…
— CryptoGoos (@crypto_goos) January 12, 2025
This makes me so bullish!🚀 pic.twitter.com/NdZ0ZL0x3y
Hayes anticipates that institutions will continue to view Bitcoin as a hedge against inflation and traditional market risks. The projected rise could see Bitcoin increase by over 950% from current levels. This would mark a significant milestone in the asset’s growth. Hayes emphasized that Bitcoin’s decentralized nature makes it a valuable financial tool. As adoption grows, he sees its price climbing steadily. For early adopters, Bitcoin remains a promising investment with long-term potential.
Key Bitcoin Levels To Watch – January 12
BTCUSD is currently experiencing a retracement, testing the $85,000 support zone after failing to hold above the $95,000 level. The Fibonacci levels, particularly the 0.618 at $82,680, suggest a strong area for potential reversal.
The stochastic oscillator indicates oversold conditions, aligning with a possible bullish recovery. A breakout above $95,000 could confirm a move towards $100,000 and possibly $108,390 in the mid-term.
BTCUSD Key Levels
Resistance Levels: $100,000, $108,340, $115,000
Support Levels: $85,010, $66,780, $53,500
BTC/USD Metrics
Total Market Capitalisation: $3.28T
Bitcoin Market Capitalisation: $1.86T
Bitcoin Volume: $18.10B
Market Rank: #1
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