Why Bitcoin Billionaire Arthur Hayes Expects BTC to Reach $200,000 in March

says BitMex founder and Bitcoin billionaire Arthur Hayes BTC will soon rise to a price of $200,000 before falling back and creating a bottom above $124,000.

According to Hayes, the sharp rise in Bitcoin’s price will come from the Fed’s Reserve Management Purchases (RMP), a new operating policy that the Fed shared at its most recent FOMC meeting, which it compared to quantitative easing.

“RMP is a new acronym that entered my Love Language dictionary on December 10, the day of the most recent Fed meeting,” Hayes wrote in his last blog post from Friday.

“I immediately recognized it, understood its meaning and cherished it as my long-lost love, quantitative easing (QE),” he continued. “I like QE because it means printing money, and luckily I own financial assets like gold, gold/silver mining stocks and Bitcoin, which are rising faster than the rate of fiat money creation.”

According to Hayes, if money printing continues to drive Bitcoin adoption, it could eventually one day replace the “dirty fiat fractional reserve system.”

The Bitcoin billionaire has previously pointed to money printing, or the Fed increasing the money supply and buying assets, as a major catalyst for the top cryptocurrency. He predicted that earlier this year Bitcoin could rise to $250,000 towards the end of the year due to the money printing policy.

That hasn’t happened yet, and he doesn’t believe it anymore. Instead, he calls for BTC to fluctuate between $80,000 and $100,000 until the end of the year.

However, in the new year, he expects Bitcoin to take off quickly.

“As the market equates RMP with QE, Bitcoin will quickly recapture $124,000 and quickly head towards $200,000,” Hayes wrote. “March will mark the highest expectations for the power of the RMP to drive asset prices higher, and Bitcoin will fall, forming a local bottom well above $124,000 as John Williams keeps his grubby fingers firmly on the Brrrr button.”

Williams, the president and CEO of the Federal Reserve Bank of New York, serves as vice chairman of the FOMC, the body responsible for setting monetary policy such as interest rates.

With Bitcoin expected to rise alongside the introduction of RMP, Hayes also likes Ethena’s own token, ENA, calling it a “TradFi vs. crypto USD price play”

Bitcoin would need to rise 127% in the coming months to reach Hayes’ predicted milestone. It recently changed hands around $88,000 – 30% below the all-time high of $126,080.

Hayes’ comments came on the same day that crypto analytics firm CryptoQuant said Bitcoin appears to have entered a bear market, based on several market factors (in addition to price) that indicate a significant decline since early October.