Arthur Hayes, former CEO of BitMEX, has set a price target of $250,000 for Bitcoin and believes that the bull cycle is not over. In his latest essay, Hayes expressed concerns about recent macro-banking issues and the TRUMP meme coin but still believes that the 2024/2025 bull cycle is ongoing. He predicts a short-term correction for Bitcoin, with a dip to the $70,000 – $75,000 range, before it surges to $250,000 by the end of the year. Hayes has increased staked Ethena USDe stablecoin holdings in anticipation of the dip. Other analysts, including Raoul Pal and Jason William, have also predicted a $250,000 price target for Bitcoin this cycle. Bitcoin recently rebounded from a dip and is currently trading at $105,000.



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