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Bitmex cofounder and former CEO Arthur Hayes has predicted cryptocurrency prices will rise under the Donald Trump and Kamala Harris administrations due to increased money printing. He added that Bitcoin’s price could soar to “hundreds of thousands of dollars, maybe $1 million.”
Based on available data, Arthur Hayes wrote about how politicians might secure re-election during a market downturn by printing money and manipulating prices. The example used was Democratic presidential nominee Kamala Harris taking aggressive measures to prevent a financial crisis. He also discussed the global financial crisis that could emerge from the unwinding of Japan Inc.’s yen carry trade. To that end, Harris would have the U.S. Treasury Secretary, Janet Yellen, at her beck and call to use monetary tools to stave off such a crisis.
Arthur Hayes’ Perspective on Crypto Prices
In an interview with DL News on Monday, Arthur Hayes said crypto prices will go up regardless of whether Donald Trump or Kamala Harris is in office. “Yes, crypto donates a lot of money. But I don’t think you’ve donated enough to outpace a JPMorgan, a Morgan Stanley, a Citibank, [or] a Goldman Sachs. And if you think about who’s staffed in these agencies, it’s all who came from these banks. While it would be great if Trump were elected and did all these things”, he explained that he might run into the same problem he ran into in his first term.
Arthur Hayes went forward to share his forecast:
“Both the Trump administration or Harris administration will print the money. They do it in different ways. But the money will be printed. And so your crypto is going to go up — the path could be very wonky, but at the end of the day, we know where it’s going.”
“The bitcoin price in this cycle is going to go very, very high — hundreds of thousands of dollars, maybe $1 million,” the former Bitmex executive noted. “There’s so much debt that needs to be rolled over. We’re entering a period where the global monetary architecture is completely changing.”
Impact of Political Strategies on Crypto
Arthur Hayes explained how different political strategies may affect financial markets. He believes that both Trump and Harris will apply different methods. He is sure that no matter who is in power, the political environment will add up to a supportive atmosphere for cryptocurrencies.
He highlighted in the discussion the likelihood of a global financial crisis concerning Japan Inc. unwinding its yen carry trade. He assumed that there would be much more forceful monetary intervention by U.S. policymakers. In making the case, he argued that the price of digital currencies like Bitcoin tends to skyrocket in such situations.
Future Outlook for Bitcoin
According to Arthur Hayes, the most unprecedented growth in the upcoming cycle will be that of Bitcoin. He predicted that the price of Bitcoin would reach “hundreds of thousands of dollars, maybe $1 million.” This positive outlook is underpinned by continuous monetary expansion and a change in how the global financial system works.
The predictions by Arthur Hayes underline a sophisticated relationship between political actions and financial markets. He said that regardless of the political administration, strategies to handle these economic challenges would likely benefit the cryptocurrency market. According to Arthur Hayes, Bitcoin and other digital assets will propel with significant upward momentum as the global financial landscape evolves.
In summary, Arthur Hayes’s analysis gives a good argument for the potential rise of cryptocurrency prices in the setting of aggressive monetary policies. His forecast of Bitcoin reaching unprecedented heights shows how much of a game-changer these financial strategies will be on the crypto market. Get more news about the crypto world from Turkishnyradio.
