Expert predicts rapid growth of bitcoin in the near future

Former BitMEX CEO Arthur Hayes said in a blog post that bitcoin will bottom out and recover quickly as the Fed prints trillions of dollars again.

Former BitMEX CEO Arthur Hayes is closely monitoring the behavior of the Japanese yen (JPY) and the euro (EUR) against the US dollar. According to Hayes, the steady growth of the US dollar against these currencies is likely to force the Fed to intervene and «flip the switch on the money printing machine.»

«Be sure to keep an eye on the yen and euro. There will soon be an 'intervention' to weaken the US dollar if JPY > 150 and/or EUR < 0.90. „Intervention“ means that the Fed will print more money. Printing money means that BTC will grow,» he emphasized. Hayes believes that if the US is determined to defeat Russia through economic sanctions, the Fed should find a way to weaken the dollar against the yen and euro. If the US turns on the «printing press» again to support its allies, the increase in liquidity will be reflected in bitcoin and crypto markets.