Arthur Hayes, co-founder of BitMEX believes Bitcoin (BTC), is poised to reach a new high due to the appearance of several catalysts that will lead to a bullish market.
Hayes told his 704,300 social media followers that tensions in the Middle East and US monetary policy are some of the factors he thinks will cause Bitcoin to rise.
Hayes said that the Statutory Leverage Ratio exemption (SLR), which allows banks to increase their holdings of U.S. Treasury Securities without increasing their additional leverage ratio is “progressing”. This move boosts the banks’ liquidity.
BitMEX’s co-founder says that the GENIUS Act will give the US stablecoins market over to banks. Hayes believes that the legislation which was passed earlier this month will benefit lenders.
Hayes says that despite the recent ceasefire brokered between Iran and Israel by Donald Trump, there is still a risk to geopolitics in the Middle East, which favors assets that are considered safe havens.
BTC’s all-time highest prices are on the way!
BitMEX’s co-founder says that a global unwinding of carry trades on US dollars is also about to create “serious” pain. A carry trade involves a wager made based on interest rates differences between countries. The expectation that the Federal Reserve will cut interest rates is weakening the US dollar. This, in turn, reduces the expected returns on dollar-denominated investments. Hayes believes that Bitcoin can counteract the continued weakening in the US dollar.
Please follow us at X@InvCryptoDaily
Subscribe for email alerts to avoid missing a beat
___________________
___________________
Sources of Images include Pixabay Creative Commons & Midjourney
The post BitMEX founder Arthur Hayes Outlines Catalysts For A Bitcoin Bull Market And Says That New All-Time Lows Are Coming could be updated as new information becomes available.
This site is for entertainment only. Click here to read more
