Arthur Hayes, former CEO of BitMEX, shares his predictions about the crypto market from time to time. Arthur Hayes shared his thoughts on Bitcoin and the crypto market again on his blog account. Contrary to some analysts, Hayes claims that the leading cryptocurrency Bitcoin (BTC) will not fall below $ 20 thousand.
Hayes, who said that traditional financial markets were not aware that the US Federal Reserve (FED) was in a difficult situation, conveyed the following about the tight monetary policy of the FED:
The market is not yet aware that the FED cannot control the US Treasury market and that interest rate cuts and quantitative easing will resume quickly. The Fed already proved that earlier this year. The Fed loosened monetary policy, expanding its balance sheet by hundreds of billions of dollars within a few trading days to “save” the problems from regional bank failures. A troubled U.S. Treasury market benefits limited-supply risky assets like Bitcoin.
Thinking that Bitcoin will not sag below $20,000 in the coming period, Hayes expects BTC to accumulate around $25,000. Here are the latest details of Arthur Hayes about the crypto market:
No matter how doomsday the mainstream financial media has been about a sharp correction in crypto prices, there is plenty of cash to enter crypto soon. Some believe that Bitcoin will drop below $20,000, but I think we will accumulate around $25,000 at the beginning of Q3.