Hayes waits for the Fed to resume stimulus
BitMEX co-founder Arthur Hayes, known for his optimistic Bitcoin forecasts, stated that he is not going to invest in the flagship cryptocurrency in the near future. In his opinion, as long as the US Federal Reserve continues to tighten monetary policy, buying Bitcoin would be risky.
Hayes noted that he will start actively buying BTC only when the Fed returns to a policy of monetary stimulus. This may happen against the backdrop of escalating geopolitical tensions in the Middle East or other signs of an impending economic downturn.
According to the expert, the restoration of the quantitative easing program by the Fed will lead to an increase in demand for Bitcoin as a defensive asset. The cryptocurrency traditionally demonstrates growth against the backdrop of geopolitical instability and loose monetary policy.
Skepticism of an experienced trader
Recall that Arthur Hayes has previously made bold forecasts for the Bitcoin rate, predicting its growth to $50,000 and even $100,000. However, now he is more skeptical, citing the difficult macroeconomic situation.
Hayes' position reflects the sentiment of many experienced participants in the cryptocurrency market who prefer to take a wait-and-see approach against the backdrop of uncertainty regarding the Fed's monetary policy and possible geopolitical upheavals.
In general, Arthur Hayes' comment demonstrates that even ardent Bitcoin supporters can exercise caution when making investment decisions, especially during a period of unfavorable macroeconomic conditions.