According to Arthur Hayes of BitMEX the cryptocurrency market dominance of Bitcoin will reach 70% due to intensifying global financial instability. A post dated April 7 on X shows Hayes explaining how investors choose Bitcoin as a safer choice before the Federal Reserve starts its inevitable money printing cycle amid rising economic constraints.
Current Market Position
CoinMarketCap shows Bitcoin holds around 63% of total cryptocurrency market value and this represents its biggest market share in more than four years. Bitcoin demonstrates increased popularity with investors when financial instability strikes because they favor this digital currency above alternative assets.
Global Market Turmoil
The cryptocurrency market experienced changes during this period when financial experts labeled it “Black Monday” caused by Trump’s decision to impose a 10% duty on all imports. The global financial markets reacted with panic after this policy action because Hong Kong’s exchange plummeted by 13% alongside large single-day losses across Chinese markets since 2008. US stock market futures declined 22% enough to enter a bear market territory.
Hayes’ Bitcoin Dominance Prediction
The interest of governments in national economic growth will drive up demand for assets not controlled by their domestic regulations according to Hayes. According to Hayes Bitcoin presents superior protection from economic uncertainty because it meets modern requirements for a decentralized financial system surpassing traditional uses of gold. According to Hayes Bitcoin could reach $1 million in value because it will gain dominance in the developing world economy.
