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.
The U.S. Federal Reserve’s announcement regarding fewer interest rate cuts in 2025 dampened investor hopes. Hayes indicates that this decision could diminish Trump’s initial impact and lead to market volatility. He stated, “The confirmation of fewer interest rate cuts by the Fed could limit Bitcoin’s price movements.”
Bitcoin’s Long-Term Role and the European Factor
Hayes is optimistic about Bitcoin’s long-term future. Increased economic pressures within the European Union may lead investors to view Bitcoin as a ‘safe haven.’ This shift could enhance Bitcoin’s value and demand. Hayes emphasized, “Problems in the European economy could trigger investors to move towards Bitcoin away from U.S. assets.”
He noted that long-term market dynamics will be heavily influenced by American and European economic policies. Cryptocurrencies could emerge as more attractive investment vehicles during periods of economic uncertainty. “I can say that Bitcoin’s price may fluctuate based on global conditions, but it will be the winning side in the long run,” he shared regarding his forecasts.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
