Arthur Hayes: BitMEX CEO believes that the Bitcoin price will double
Because the Fed Reserve prints out 53 billion dollars of extra cash, says the CEO of BitMEX-crypto-giants that the market may be preparing for a bullish Phase. The cheap money will be invested, in his opinion in the crypto market and thus a rise in Bitcoin exchange rate to worry about.
The CEO of Bitmex, Arthur Hayes, believes that the BTC will double in price. By the loose money policy of the FED (Federal Reserve Bank, the Central Bank of America) are flooded the markets with money that many investors are stuck in the crypto market. Through this renewed short-term recovery and Bitcoin could reach its all-time high in the year 2017, $ 20,000 and even break through.
The head of BitMEX-crypto-trading giant Arthur Hayes tweeted this:
This is the second Time that the Fed since the financial crisis of 2008, engages with the switch-on of your Dollar-printing machine. Many believe that this particular event caused the mysterious Satoshi Nakamoto (whether it was a single Person or a group of developers) directly to reasons, Bitcoin.
Recently, the market has proven that the Bitcoin price starts to rise when the world economy and world politics to show the real face of uncertainty and instability.
This happened in particular, as the beginning of the year the trade war between the US and China broke out.
QE4eva is coming. Once the Fed gets religion again, get ready for #bitcoin $20,000. https://t.co/gCBgaernYv
— Arthur Hayes (@Crypto Hayes) 18. September 2019
The Fed was not the only Institution that decided to go the path of cheap money, which is considered to be quick healing, if the economy is bleeding. The ECB (European Central Bank) has applied this measure in this year twice, the most recent was last week. Not too long ago, forecasted Hayes that BTC would rise to up to 20,000 US dollars.
The Great recession has spawned two of the leading financial trends – or at the very least, Bitcoin (crypto-currencies), and the unorthodox monetary policy in the Form of quantitative easing, the “money printing” and negative interest rates popularized. Since the recession, the Central banks of the world have pushed through interest rate cuts, trillions in the economy, the stock markets and the overall economic data to defer to “whitewash” and the supposed recession.
As already reported, the ECB lowered the Euro-monitoring the monetary authority, your rate of interest on deposits by 10 BPS (0.1%) of -0.5%. At the same time, the Central Bank announced that it would initiate a further round of quantitative easing (QE), in which they promised, every month, bonds and “other financial assets” (non-Bitcoin) to buy in the value of around 20 billion euros, in the hope that the economy will continue to be stimulated.
The People’s Bank of China (PBoC) will maintain recently their medium-term lending rate, but is expected to monetary policy is also “to loosen”. Ding Shuang, senior economist for Greater China and North Asia at Standard Chartered, told Reuters:
All other indicators show that there is a strong Argument for interest rate cuts, including the data on real economic activity yesterday, which was a confirmation for downside risks. If a large part of the US-tariff increases to take effect, the downside risks in the future will be even greater.
Why, however, the prospects for Bitcoin bull are?
This is in direct connection with the Inflation of the circulating money supply. Travis Kling, a former portfolio Manager at a leading Wall Street Fund, wrote that the above-mentioned developments, an offer “are the bankers, under the Central, their currencies as quickly as possible to devalue”.
He writes that in order for a race among the Fiat currencies, which currency is held as the world’s reserve currency in the future. Bitcoin can benefit from it (freely translated):
“Bitcoin is currently a risk factor. But it is a risk to assets with a number of specific plant characteristics, which are only the more attractive, the irresponsible monetary and fiscal policy.“
