Arthur Hayes: Still believes that Bitcoin can reach 250,000 dollars by the end of the year

Golden Finance reports that Arthur Hayes stated in his latest blog post: "Bitcoin value = technology + legal liquidity. This technology is effective and will not undergo any significant changes in the near future, for better or worse. Therefore, Bitcoin trading is entirely based on market expectations of future fiat currency supply. If my analysis of the Federal Reserve's major shift from Treasury QT to QE is correct, then Bitcoin touched a local low of $76,500 last month and now we are starting to move towards $250,000 by the end of the year.

Of course, this isn't an exact science but if I had to bet between what I think Bitcoin would touch first - $76,500 or $110,000 - using gold as an example; I'd bet on the latter. Even if US stock markets continue to fall due to tariffs, collapsing profit expectations or declining foreign demand; I still believe there's a greater probability that Bitcoin will continue its ascent. Recognizing these pros and cons Maelstrom is cautiously deploying capital. We don't use leverage and relative to our total investment portfolio size we make small purchases. We have been buying Bitcoins and altcoins at all levels between $90k-$76k.

The speed at which capital is deployed will accelerate or slow down depending on how accurate my predictions are. I still believe that by year-end bitcoin can reach 250 thousand dollars."