Arthur Hayes, co-founder of BitMEX, has projected that Bitcoin could reach a price of $1 million, driven by Japan's recent interest rate hike. On December 19, Hayes highlighted the impact of Japan's monetary policy, cautioning against betting against the Bank of Japan. He emphasized that negative real interest rates are a key factor in his analysis. Hayes also suggested that the yen-dollar exchange rate could decline to 200, further influencing Bitcoin's potential upward trajectory.