BitMEX former CEO Arthur Hayes has announced that the crypto bull may begin towards the end of the summer, given the current macroeconomic monetary policies.
In an article published on the Arthur Hayes blog, the cryptocurrency market Current situation And potential future developments made statements about US Federal Reserve (FED) The monetary policy implemented by the will drag you into a bull market Thinking about it, Hayes also gave the date.
Bull season can begin in late summer
Bull season for the cryptocurrency market end of the third quarter of 2023 And at the beginning of the fourth quarter Hayes, who suggested that he would start a little boring in the summer He said he could pass. Hayes said it will gradually phase out over the next summer, when he believes volatility will be low. Bitcoin will increase its holdings Wrote.
Hayes stated that he was unaware of what the monetary policy managers were doing. in the macroeconomic equation He pointed out that there were big problems. USA based fiat currency crisis a global scale will turn into a financial pandemic. stressed.
Money printing, yield curve control, bank failures etc. it will all happen, starting in the US and eventually spreading to all major fiat systems. In this direction, they will have no choice but to print more money. And remember, when the minting machine brrr, Bitcoin booms!
Doesn’t retest $20,000!
of the FED aggressive money printing policy. of investors risk appetite Hayes, who wrote that he will increase $20,000 left behind implied. Bitcoin will stand firmly in the price band it is in, and to $20,000 levels He stated that it is unlikely that it will come close with the following statements:
All these paid interests are an incentive program for the wealthy. What do the wealthy do when they have more money than they need? They buy risky assets. Gold, Bitcoin, AI technology stocks, etc. they will all benefit from this “wealth” printed by the government and distributed as interest. I expect Bitcoin to hold firm here. I don’t believe we’re going to retest $20,000 or come close to it.