BitMEX co-founder Arthur Hayes, Bitcoin (BTC) could rise to seven figures with a catalyst predicted. Hayes notes that a decline in commercial real estate prices could prompt the Federal Reserve to inject liquidity into markets to support the economy. An article published in Bloomberg points out that Japan’s Aozora Bank and New York Community Bancorp (NYCB) are suffering huge losses due to the weakening US commercial real estate sector.
What did the Fed and Treasury do last time US property prices plunged and bankrupted banks globally?
NEWS CONTINUES BELOWMoney Printer Go Brrrr$BTC = $1mm
Yachtzee 🫡🫡🫡🫡🫡😘😘😘😘 pic.twitter.com/adgkkNT2Az
NEWS CONTINUES BELOW— Arthur Hayes (@CryptoHayes) February 1, 2024
Hayes generally believes that increased liquidity in risk assets, such as Bitcoin, is crypto- He believes it could lead to his assets rising to $1 million. He believes commercial real estate weakness and banking problems could force the Fed and the U.S. Treasury to loosen monetary policy sooner. NYCB’s ‘surprise’ loss announcement and loan loss reserves increasing 10 times more than expected are just one example of this situation.
Hayes says BTC may experience some volatility, but if some banks skip the weekend, another rescue should be expected immediately. He thinks that if this situation occurs, BTC may experience a rise similar to the March 2023 price movement in the past. Koinfinans.com As we reported, at the time of writing, Bitcoin is trading at $42,857.