BitMEX co-founder Arthur Hayes suggests that the crypto markets are currently experiencing a brief correction phase before Bitcoin (BTC) and other digital assets surge to new record highs by the end of the year. In a recent interview, Hayes explains that significant corrections are typical during historical bull cycles and are instrumental in establishing a healthier market foundation to propel Bitcoin to $250,000 by year-end. Hayes views the recent correction as a necessary process to eliminate excessive leverage and speculative investments, expressing confidence in the potential for Bitcoin and the overall crypto market capitalization to significantly increase. He anticipates that the expansion of monetary supply by governments in response to economic challenges will be a key driver for the upward trajectory of Bitcoin and other digital assets. Bitcoin is currently trading at $84,677, showing a 4.4% increase in the past 24 hours.
