BTC bull market began in March, but the best is yet to come, says Arthur Hayes...

BitMEX co-founder says Bitcoin has been in a bull cycle since the launch of the Fed's $25 billion program aimed at stabilizing the US banking system.
Bitcoin is in an upward cycle that began approximately six months ago, but the market has not yet reacted, according to the co-founder and former CEO of BitMEX, Arthur Hayes. In about six to 12 months that will change, Hayes said.
In a September 5 speech at Korea Blockchain Week, Hayes argued that the Bitcoin bull market began on March 10, the day Silicon Valley Bank (SVB) was incorporated by the US Federal Deposit Insurance Corporation ( FDIC).
Two days before SVB's incorporation, on March 8, Silvergate Bank went into liquidation. Two days later, on March 12, Signature Bank was forced to close its doors by New York regulators.
In response to the banking crisis, and in an attempt to prevent the collapse of other financial institutions, the Federal Reserve created the Bank Term Financing Program (BTFP), offering bank loans of up to one year in exchange for presenting "assets qualified" as collateral.
"Essentially, what [the Fed] did was prop up the entire banking system by saying, 'Please give me your undervalued shit bonds and I'll give you new dollars,'" Hayes said.
"Myself and the rest of the market saw this as an admission that they caused this structural problem in the banking system - and that this is one of the ways to fix it, i.e. print more money."
Since then, the price of Bitcoin has increased by around 26% – which is why he claims the bull market began that day.