Arthur Hayes, one of the co-founders of BitMEX, predicts that a change in central bank policies is set to propel crypto assets into a new phase of growth.
In a recent essay, Hayes, who now serves as the Chief Investment Officer of the crypto fund Maelstrom, highlights the decisions made by the Bank of Canada (BOC) and the European Central Bank (ECB) to reduce interest rates.
According to Hayes, these actions taken by Canada and Europe indicate a potential global shift towards looser monetary policies, which could lead to a surge in risk assets once the Federal Reserve in the US follows suit.
Hayes expresses, “The recent rate cuts by the BOC and ECB have initiated a wave of central banking changes that will breathe new life into the crypto market after a quiet summer. This came as a surprise to me as I had anticipated these developments to occur later in August, coinciding with the Fed’s Jackson Hole symposium, where major policy shifts are usually announced for the upcoming season.”
He continues, “The trend is unmistakable. Central banks are gradually entering easing cycles.”
Hayes believes that this shift in monetary policy calls for a bullish stance on Bitcoin and other cryptocurrencies. He advises, “It’s time to go long on Bitcoin and other altcoins.”
Reflecting on the changing macroeconomic landscape, Hayes states, “Given the altered circumstances from my initial expectations, I am adjusting my strategy accordingly. To the projects in the Maelstrom portfolio seeking my guidance on token launches, my response is clear – Let’s move forward!”
Hayes also plans to invest his excess crypto assets in promising altcoins, aiming to capitalize on the resurgence of the crypto market and the challenges faced by central banks.
As the crypto bull market gains momentum, Hayes is confident that it will shake up the traditional financial system.
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Disclaimer: The opinions expressed in this article are not financial advice. Investors are urged to conduct thorough research before engaging in high-risk investments in Bitcoin, cryptocurrencies, or digital assets. All trading activities are conducted at the individual’s own risk, and any resulting losses are the responsibility of the investor. The Daily Hodl does not endorse the purchase or sale of any cryptocurrencies or digital assets and is not a financial advisor. Please be aware that The Daily Hodl may engage in affiliate marketing.
