Crypto prediction: The bull run is really going to start now

Despite the cryptodip, Bitcoin expert Arthur Hayes is bullish. His prediction for May and why the bull run is really going to start now.

In his latest blog post gives Arthur Hayes, co-founder of BitMEX, commented laconically on the latest cryptodip: "Prices have developed as I expected." The man is known for his confident crypto predictions.

In fact, he had a correction and high volatility predicted before and after Bitcoin Halving.

The decline of 12 percent BTC was a "<3necessary market adjustment." He attributes this to tax season in the U.S., concerns about the Fed's interest rate decision, the halving as a "sell-the-news event" and the slowdown in Bitcoin ETF inflows.

Meanwhile, the cryptocurrency Bitcoin is trading at $59,310. A price increase of 2.7 percent over the past 24 hours and thus a slight recovery. Yet BTC is still down 7.9 percent from a week ago.

As of now, however, the increase in liquidity in the U.S. will temper further negative price movements, Hayes asserts. A larger money supply could soon find its way into riskier assets such as cryptocurrency and create buying pressure.

"While I do not expect cryptocurrencies to fully see through the inflationary nature of recent U.S. monetary policy right away, I do expect prices to bottom out and slowly rise again," explained the former CEO of BitMEX.

At the end of the blog post, he says bluntly, "Did Bitcoin hit a local bottom around $58,600 earlier this week? Yes." He predicts a recovery of BTC to over $60,000 and then a price range between $60,000 and $70,000 through August.