The article discusses a prediction by Hayes that U.S. Treasury Secretary Janet Yellen could inject between $301 billion and $1 trillion into markets before 2024, potentially kickstarting a bitcoin price boom. This injection is expected to create a bull market in risk assets, including crypto, coinciding with Kamala Harris’s vice presidential bid for the 2024 U.S. Presidential Election. Hayes also anticipates China introducing significant fiscal stimulus, which could further fuel a cryptocurrency rally led by bitcoin reaching $1 million per coin and other smaller cryptos gaining momentum.
However, while crypto markets have shown some recovery this year with increased adoption from Wall Street and endorsement from former U.S. President Donald Trump, they face challenges to maintain upward momentum. The technical outlook remains bearish for bitcoin due to higher chances of further price declines influenced by selling pressure resulting from the U.S. government offloading seized bitcoin onto the market and potential regulatory concerns.