BitMEX Founder Arthur Hayes’ Bullish Message: I’m Buying Bitcoin and These Altcoins!
BitMEX Co-Founder Arthur Hayes Advises Investors to Take Long Positions on Bitcoin and Shitcoins like DOGE, SHIB in Response to Central Bank Policies
Arthur Hayes, the outspoken co-founder of BitMEX, has shared his latest insights on recent macroeconomic developments and their impact on the crypto market in his new article. Referring to the G7 central banks as the "Group of Fools," Hayes criticized their policies.
Hayes stated that he will continue investing in Bitcoin and altcoins due to the policies of the G7 central banks. He reiterated a prediction from his previous article, which was based on the dollar-yen relationship. Hayes predicted that to strengthen the weakening Japanese yen, the Federal Reserve will print new dollars and engage in unlimited dollar-yen swaps with the Bank of Japan, resulting in a stronger yen and a weaker dollar. He argued that a weakening dollar could trigger a rally in risk assets like Bitcoin.
The FED Will Join Other Central Banks!
Commenting on the rate cuts by the European Central Bank (ECB) and the Bank of Canada (BOC) this week, Hayes stated that other major central banks will also join the rate-cutting trend. He believes the key question is whether the Federal Reserve will cut rates before the presidential elections. "If the FED cuts rates at its June meeting while inflation is still above the 2% target, the gap between the dollar and the yen will significantly narrow, which means the yen will strengthen, and the dollar will weaken. However, considering the negative polling results due to rising prices, I don’t think Joe Biden is ready for the FED to cut rates," Hayes said. While he doesn’t expect the FED to cut rates early, he believes the FED will be forced to join the rate-cutting cycle as other major central banks begin to lower rates.
