The former CEO of the BitMEX cryptocurrency exchange expressed his point of view on the bullish rally of Bitcoin and predicted further growth of the world’s first cryptocurrency.

“Risk assets such as BTC and other cryptocurrencies will continue to grow strongly,” wrote Arthur Hayes on the social network X (Twitter).

The ex-CEO of the crypto exchange drew the attention of subscribers: since the beginning of November, there has been a significant injection of liquidity into the US financial market in the amount of almost $200 billion. According to the expert, this indicates a drop in the reverse repo balance (RRP), while the balance of the general treasury account (TGA) ) remains unchanged – and this is good for the crypto market. This influx of liquidity essentially helps risky assets, Hayes believes.

The day before, the former head of BitMEX made a more specific forecast for Bitcoin – that the cryptocurrency would rise to $1 million.

Hayes believes that institutional investors’ interest in Bitcoin may “foreshadow a situation that we end up not liking.” According to the expert, the “hype around Bitcoin ETFs” has nothing to do with the recent increase in the rate by 15%: investors “buy BTC due to inflation against the backdrop of wars around the world.”