BitMEX co-founder Arthur Hayes said central bank policy changes would catapult cryptocurrency assets into a new bullish phase.
Hayes, who is currently CIO of cryptocurrency investment fund Maelstrom, noted in a new essay that both the Bank of Canada (BOC) and the European Central Bank (ECB) have decided to lower interest rates.
Hayes said moves in Europe and Canada suggest a global shift in looser monetary policy may be underway, which could lead to a surge in risk assets if the U.S. Federal Reserve follows suit.
“The June central bank fireworks that started this week with interest rate cuts from the BOC and ECB will push cryptocurrencies out of the Northern Hemisphere summer slump. This was not the base case I expected. I thought the fireworks would start in August when the Fed held the Jackson Hole Symposium. This is typically where sudden policy changes are announced as we head into the fall.
The trend is clear. “Central banks on the edge are starting an easing cycle.”
According to Hayes, a new chapter in monetary policy means it’s time to “buy Bitcoin and subsequent sh*tcoins.”
A cryptocurrency expert says:
“The macro environment has changed compared to my standards. Therefore, my strategy will also change. For the Maelstrom portfolio project, which asked for my opinion on whether to launch a token now or later. I mean, Let’s F***ing Go!
It’s time to re-deploy my excess liquid cryptocurrency synthetic dollar cash, also known as USD on Ethena (USDe), into a guilty poopcoin that earns some APY (Annual Percentage Yield). Of course, I will tell my readers what they are after I purchase them. But suffice it to say that the cryptocurrency bull market is reawakening and will gnaw at the skin of profligate central bankers.”
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