Former Bitmex CEO Arthur Hayes said that he expected the $ 70 thousand level in Bitcoin (BTC), but it did not happen, and explained why it did not rise.
Arthur Hayes, in an article published on his official blog site on September 12, said last week: Korea Blockchain Week He detailed the speech he gave at the event on the impact of FED policies on the global economy and Bitcoin prices in the medium term. Hayes says Fed will end rate hike cycle to more inflation He claimed that this would be the reason.
Ex-CEO article extensively FED’s and global central banks interest policies mentioned. Governments continue to increase interest rates, but markets have not been aware of this for a long time. funded with negative interest voicing hayesthe interest rate increase is a reason for this situation. there is no solution told.
Hayes also increased spending in response to the FED’s interest rate hike. did not make any cuts In this case, it only increases the amount it will pay to the holders of the debt securities it issues and this situation further widening the fiscal deficit he stated.
This is why Bitcoin won’t hit $70,000
At this point, according to Hayes, even if interest rates continue to increase deficit in balance of payments interest rates will expand in real terms in the negative part will continue to remain. Former CEO, just like during the pandemic period, Bitcoin to 70 thousand dollars The reason for not coming out is that market participants are currently Focusing on nominal interest rather than real interest explained.
Hayes also said that the market is worried about the FED’s interest rate hike policy. In march seriously to the banking system. that you injured that he understood and therefore rapidly reduced interest rates and Bitcoin for 70 thousand dollars He emphasized that he thought he would let him out, but that was not the case.
While Hayes implies that in the current situation, governments are forcing people to live in ignorance of their investment options in order to continue to fund themselves at low negative interest rates. Bitcoin And developing technology This situation is increasing with it’s getting harder expressed.
In line with all these views, Hayes believes that Bitcoin is associated with the collapse in the US economy. inversely proportional As the number of participants who become aware of the situation increases in the coming days, Bitcoin will also will continue its upward movement He used expressions to that effect.