According to TechFlow, Arthur Hayes, founder of BitMEX, published a new article titled "Group of Fools" stating that the central banks of G7 countries are trying to stabilize the market by narrowing the interest rate gap with the Japanese yen. The Bank of Japan cannot raise interest rates like other G7 countries due to its large holdings of Japanese government bonds. Some central banks are still cutting interest rates despite inflation rates above target.
Arthur Hayes predicts that this will drive a recovery in the cryptocurrency market and recommends that investors increase their holdings of Bitcoin and other cryptocurrencies. He also noted that the Federal Reserve is unlikely to cut interest rates at its upcoming June meeting, although this has an important impact on the USD/JPY exchange rate.
Arthur Hayes ends the article by saying that the crypto bull market is reawakening and is about to pierce the skin of profligate central bankers. Go long Bitcoin, then long altcoins.
