In a recent article, Arthur Hayes claims that no matter who takes the White HouseâDonald Trump or Kamala Harrisâthe crypto market will boom thanks to rampant money printing. Hayes predicts Bitcoin could skyrocket to hundreds of thousands, even hitting the million-dollar mark.
As the Kamala Harris camp launches its âCrypto For Harrisâ promotion to show that it is not anti-innovation, Arthur Hayes, Bitmex cofounder and ex-CEO, is bringing one more gamble to the crypto markets in 2024.
Crypto For Harris: The Political Influence on Financial Markets
Arthur Hayesâs prediction is based on politicians dodging market meltdowns, resorting to money printing and economic sleight of hand in times like now. Think 2008, 2020, and 2022, and youâre more than likely about to see a reversion to money printing again in 2024.
"Thereâs so much debt that needs to be rolled over. Weâre entering a period where the global monetary architecture is completely changing,â Hayes elaborated
He also highlighted a potential worldwide financial crunch from Japanâs unraveling yen carry trade. Japanâs recent rate hike reversal has already caused the market to flash crash on Friday and over the weekend.
Cryptoâs Bright Future:
Despite potential volatility, Hayes remains confident in cryptoâs long-term success, foreseeing a significant boom fueled by relentless monetary expansion, irrespective of the political leadership.
