Arthur Hayes predicts a collapse of the crypto market after the inauguration of Donald Trump

Former BitMEX CEO Arthur Hayes suggests that cryptocurrencies may experience a significant collapse around January 20, 2025, when Donald Trump may take office as US president. The analyst wrote his new forecast in a Trump Truth essay, where he emphasized that Trump’s economic policies could cause a dollar devaluation and stimulate demand for bitcoin BTC $96,523.99 Bitcoin -5.39% Market capitalization $1.91 trillion VOL. 24 hours $3.07 billion .

According to Hayes, Trump, in an effort to quickly strengthen the US economic position, could devalue the dollar against gold to levels of $ 10,000−20,000 per ounce. This, according to the expert, could quickly make American goods competitive in the global market.

Hayes also believes that the US actions will provoke a reaction from the largest economies, in particular China, which may weaken the yuan. This will increase demand for assets with limited supply, such as gold and bitcoin. At the same time, Hayes doubts that the US administration will create a strategic reserve of bitcoin, as the funds are likely to be used for other economic needs.

Against the backdrop of such forecasts, the movement to create bitcoin reserves is growing in the United States at the level of individual states. Initiatives are already being considered in Texas, Pennsylvania, and Ohio.