BitMEX founder Arthur Hayes said recently that he expects Bitcoin to bottom out and rebound quickly, as he predicts the Federal Reserve will once again inject trillions of dollars into the financial system. He said he was closely watching the movements of the yen against the dollar and the euro against the dollar.
If the U.S. restarts the Fed’s money printing press to support its allies, the increased liquidity will eventually flow to bitcoin and crypto markets, Hayes said. “As more fiat liquidity flows through the system, risk assets, including cryptocurrencies, will bottom out and begin to recover quickly.”
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