Former Bitmex CEO Arthur Hayes shared his views on the future of the cryptocurrency market by comparing the economic and financial attitudes of China and the USA.
Arthur Hayes recently announced the future of the cryptocurrency market in a blog post. Chinese And US attitudes towards the crypto industry examined in the light. Cryptocurrency market a new bull Referring to the factors that will drive him to run, the investor, What happened in the summer of 2015 pointed.
in 2014 Mt. goxReminding the boring days in the industry with the bankruptcy of , Hayes said that Bitcoin has been used for a long time. $ 200 He said he couldn’t get out of the band. Bitcoin it from the gloomy days saving development of china As of 2015 interest in the cryptocurrency industry Emphasizing that there is a similar situation, Hayes inside we are in in days He added that it started to happen.
China has created a 3-fold rise before
Hayes, who especially criticized the US side’s overly harsh attitude towards the crypto money market in recent months, Hong Kong He implied that the re-embracing of cryptocurrencies, especially by China, is a bullish signal for the industry. Hayes, 2015 Chinese influence on Bitcoin 3x rise While reminding that he created the
The current market pattern reminded me of the summer of 2015. Mt. The bear market that began with Gox’s boom in early 2014 was brutal. Volatility and trading volumes collapsed; horizontal price movement was unbearable with its boredom. Bitcoin price hovered around $200 for what seemed like an eternity. But in August 2015, the dollar experienced a shocking devaluation and Chinese interest in Bitcoin started a rally. From August to November 2015, the price of Bitcoin tripled, mainly due to Chinese interest.
of the US Securities and Exchange Commission (SEC) Binance And to Coinbase Hong Kong, after filing a lawsuit against cryptocurrency exchanges by calling He reminded her that her doors were open. However, in the past months, cryptocurrency liquidity has visibly increased. It began to shift from the USA to Asia.
Competition from China and Japan can also benefit cryptocurrencies
According to Hayes, another factor that will put the cryptocurrency market into a bullish season is, between China and Japan a possible currency war it could be.
Chinese yuan (CNY) currency of japan yen (JPY) will evaluate against this situation and China’s exports against Japan’s exports more competitive Hayes, who thinks that this equation will to the cryptocurrency market He added that it would.
This is China’s wealthy class. its capital may increase the tendency to move to other places. Hayes believes this “elsewhere” could be the cryptocurrency industry, with increased assurance of regulation. Cryptocurrency market a new flow of capital with a serious bull run can also come with it.