New Bitcoin Statement from Former BitMEX CEO Arthur Hayes! “For BTC to Reach $70,000…”

Bitcoin and cryptocurrency attracting attention with its explanations about the market Arthur Hayes, former CEO of BitMEX in new blog post BTC He made evaluations about it.

Stating that there is a close relationship between the FED’s interest policy and Bitcoin, Arthur Hayes stated that if the FED starts to reduce interest rates, BTC will quickly increase to $ 70,000.

At this point, Hayes actually started to work after the banking crisis in March. FedHe expected that the rate hike would stop and BTC would reach $70,000.

However, the FED has increased interest rates three times since March, focusing on decreasing inflation.

Stating that some economists have been trying to predict when the FED will stop increasing interest rates since the FED started increasing interest rates, Hayes said that the FED made an unexpected move after the banking crisis in March.

“After the banking crisis in March, many people, including me, believed that the FED would definitely not increase interest rates.

Because the FED’s number one duty is to always protect banks and other financial institutions from going bankrupt.

While we thought the FED’s only option was to lower interest rates, restore the US banking system to health, and eventually watch Bitcoin rapidly move towards $70,000, an unexpected move came from the FED. “The FED has increased interest rates three times since March.”

At this point, Arthur Hayes stated that the reason why Bitcoin could not reach $ 70,000 after March was that people focused on the FED increasing interest rates more and therefore could not focus on decreasing inflation.

To herself Whether Bitcoin will rise even if the FED continues to raise interest rates Hayes wrote that he was asked: “Bitcoin has a positive relationship with Fed policy and other macro factors. Currently, real rates (US 2-Year Treasury Yields minus nominal GDP growth) turning positive signals an impending rally in Bitcoin.” said.

Finally, the former CEO of BitMEX pointed out that Bitcoin is a logical alternative for people. “BTC offers an attractive alternative to traditional banking and investment systems with its limited supply of 21 million and fast payment network. “Banks are now facing unprecedented competition and buying Bitcoin is becoming a logical choice for people.” said.

*This is not investment advice.