Post By: CryptosHeadlines.com
In the ongoing crypto market rally, BitMEX co-founder Arthur Hayes is making a bold prediction. He believes that there’s a big Bitcoin rally on the horizon, especially with the recent shift in the US Federal Reserve’s stance.
BitMEX co-founder Arthur Hayes has been quite positive about Bitcoin recently. He advised the crypto community to buy Bitcoin when its price was below $25,000. Bitcoin has gone up by 75% this year, and the change in the U.S. Federal Reserve’s stance supports the idea of a significant rally before the next halving. This is something the crypto market has been eagerly anticipating after going through the worst bear market in its history.
Hayes Predicts Huge Bitcoin Price Rally
Arthur Hayes, the co-founder of BitMEX, had a message in response to the possible change in direction from the U.S. Federal Reserve. He stated, “Guess it’s time to boost financial assets. Bitcoin, it’s your turn!”
The U.S. Federal Reserve decided to keep interest rates unchanged during the recent FOMC meeting. However, they are still considering a rate hike in December. Despite this, inflation remains high, with the Fed’s preferred inflation measurement, the annual core PCE, at 3.7%, well above the 2% target.
Hayes suggests that it’s a good time to focus on Bitcoin and other cryptocurrencies rather than traditional assets like treasury bills. He believes that while the Fed is pausing, other central banks, like those in China, Europe, and Japan, will likely introduce significant stimulus measures. This is because the Fed is taking a more cautious approach, while other banks may opt for more aggressive money printing.
Crypto Rally: Bitcoin and Others Surge
In October’s positive trend, Bitcoin reached a yearly high of $35,919. But now, it’s trading at $35,193 because traders are taking their profits.
On the other hand, Solana’s price went up by 13% in just 24 hours. And it’s not alone – other major cryptocurrencies like Ethereum (ETH), Ripple (XRP), Cardano (ADA), and Dogecoin (DOGE) are also joining the bullish ride.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.