BitMEX’s Arthur Hayes Urges, ‘It’s Time to Boost Bitcoin’ Amid U.S. Fed Signals

The post BitMEX’s Arthur Hayes Urges, ‘It’s Time to Boost Bitcoin’ Amid U.S. Fed Signals appeared first on Coinpedia Fintech News

BitMEX co-founder Arthur Hayes has been creating a buzz in the crypto world with his bullish stance on Bitcoin. As the crypto market continues to have ups and downs, Hayes believes it’s time to make the most of the opportunity and push the price of Bitcoin higher. 

Hayes has been a vocal supporter of the crypto community, advising them to “buy the dip” when Bitcoin’s price was lower than $25,000.

Bitcoin has had a great year, with gains of 75%, as the recent pivot by the U.S. Federal Reserve has added fuel to the fire, confirming a substantial pre-halving rally. This is something the crypto market has eagerly anticipated, especially after a tough time with a bear market.

Arthur Hayes’ Thoughts on the Bitcoin Rally

In response to the possible change in the U.S. Federal Reserve’s position, Arthur Hayes shared his optimism. He said, “I guess it’s time to boost the prices of financial assets. Over to you, BTC, LFG!”

In a recent meeting of the U.S. Federal Reserve, they decided to keep interest rates steady at 5.25% to 5.50%. Fed Chair Jerome Powell said, “Slowing down is giving us a better idea of how much more we need to do if we need to do more.” However, there’s still a chance they might increase interest rates in December.

Despite the cautious approach, every measure of inflation currently exceeds the Fed’s target of 2%. The Fed’s preferred gauge for measuring inflation, annual core PCE, has cooled to 3.7%.

Arthur Hayes thinks it’s time to shift our attention from traditional investments to Bitcoin and other cryptocurrencies. With the Federal Reserve pausing for two consecutive months, other central banks have room to print more money. Hayes expects significant financial support from China, Europe, and Japan, especially since the Fed is flexible.

Bitcoin’s Big Ambition: $1 Million by 2026

Previously, coinpedia covered news where Arthur Hayes made an ambitious prediction about the future of Bitcoin. He thinks Bitcoin’s price could go up to an impressive $750,000 to $1 million by 2026. 

This bold prediction comes at a time when central banks worldwide are being more careful with their money policies, and there are ongoing regulations that create some uncertainty in the crypto world.

As October ended on a high note, Bitcoin reached a yearly high of $35,219. Right now, it’s being traded at $35,393 as some traders are taking their profits.