Altcoins
Arthur Hayes Says Central Banks Are About to Catapult Bitcoin and Altcoins to New Highs – Here’s Why
BitMEX co-founder Arthur Hayes says a policy shift from central banks is poised to propel crypto assets into a new bullish phase.
In a new essay, Hayes, now CIO of crypto investment fund Maelstrom, notes that both Bank of Canada (BOC) and the European Central Bank (ECB) have decided to lower interest rates.
Hayes said Actions taken by Europe and Canada suggest that a global shift towards looser monetary policy may be underway, and could therefore signal an increase in risk assets once the US Federal Reserve follows suit.
“The June central bank fireworks, kicked off this week by the BOC and ECB rate cuts, will catapult crypto out of the northern hemisphere summer doldrums. This was not my expected base case. I thought the fireworks would start in August, right when the Fed is having its symposium in Jackson Hole. This is usually the time when abrupt policy changes are announced as fall approaches.
The trend is clear. Central banks on the margins are beginning easing cycles.
According to Hayes, the new chapter in monetary policy means it’s time to “go long Bitcoin, then sh*tcoins.”
Says the crypto veteran,
“The macroeconomic landscape has changed compared to my baseline. Therefore, my strategy will also change. For Maelstrom wallet projects, who asked for my opinion on whether to launch their tokens now or later. I say: Let’s go!
For my excess crypto liquid in synthetic dollars, aka Ethena’s USD (USDe) which yields big APYs (annual percentage yields), it’s time to deploy it again on conviction shitcoins. Of course, I will tell readers what they are after they buy them. But suffice it to say, the crypto bull is waking up and is about to skin the profligate central bankers.
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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/art prodigital