Arthur Hayes, the co-founder of BitMEX, predicts that Bitcoin's price is likely to rise if oil and energy prices surge. This potential increase is linked to escalating tensions in the Middle East, particularly between Iran and Israel. The geopolitical tensions could impact energy markets, resulting in higher oil prices.
Higher energy costs often lead to increased interest in alternative assets like Bitcoin, as investors seek to hedge against inflationary pressures. Bitcoin's decentralized nature and limited supply make it an attractive option for such investment strategies.
Hayes highlights how geopolitical events can indirectly affect Bitcoin markets, emphasizing the cryptocurrency's role in the broader financial ecosystem as a hedge against traditional market volatility.
