In his new article, BitMEX co-founder Arthur Hayes weighs in on recent macroeconomic developments and their impact on the cryptocurrency market.
Calling the G7 central banks a bunch of fools, Hayes criticized the policies of the G7 central banks.
At this point, the famous name stated that he will continue to invest in Bitcoin and altcoins due to the policies of the G7 central banks, and stated that the prediction based on the dollar-yen ratio expressed in his previous article is still valid.
Hayes said that to strengthen the gradually weakening Japanese yen, the Fed would print new dollars and do an unlimited dollar-yen currency exchange with the Bank of Japan, and the yen would strengthen and the dollar would weaken.
At this point, Hayes argues that a weakening dollar could trigger a rally in risk assets like BTC.
The FED will also join other central banks!
Assessing interest rate cuts by the European Central Bank (ECB) and the Bank of Canada (BOC) this week, Hayes said other major central banks will also participate in the interest rate cuts.
Believing the important part here is whether the Fed will reduce interest rates before the presidential election, Hayes said: “If the Fed reduces interest rates at its June meeting while inflation is still above target by 2%, the difference between the dollar and the yen will decrease significantly, which will strengthen the yen. “It means the dollar will weaken. However, given the negative poll results due to rising prices, I don’t think the FED is ready to cut interest rates,” Joe Biden said.
Although the famous name does not expect the Fed to cut interest rates early, he believes that the US Fed will also have to participate in this discount cycle as major central banks start to reduce interest rates.
“The June fireworks from central banks, triggered this week by BOC and ECB interest rate cuts, will launch Bitcoin and cryptocurrencies.
BTC may be ready to break into an uptrend after months of consolidation.
At this point, the June 12 Fed meeting could help determine the direction of BTC price.”
Switch to Bitcoin and Shitcoin!
Arthur Hayes, who has advised investors to take long positions in Bitcoin and Shitcoins such as DOGE and SHIB despite central bank policies, said:
“The cryptocurrency bull is awakening to defeat spendthrift central bankers.
Invest in Bitcoin and Shitcoin. We know how to play this game. “This is the same game we have been playing since 2009, when our savior Satoshi gave us the Bitcoin weapon to defeat the TradFi demon.”
*This is not investment advice.
