AI Crisis and New Bitcoin Records
Well-known crypto expert Arthur Hayes predicts that the rapid development of artificial intelligence in the coming years will cause massive layoffs and a wave of credit defaults. This could lead to a significant drop in the price of Bitcoin and other cryptocurrencies.
However, Hayes is also confident that the aggressive monetary policy of the US Federal Reserve (Fed) will lead to new record highs in the value of the first cryptocurrency. In his opinion, the Fed will be forced to sharply increase the money supply to support the economy amid mass unemployment due to the development of AI.
Such measures, according to Hayes' forecasts, will push the bitcoin price to new historical highs, despite the previous decline. This is because investors will actively shift to cryptocurrencies amid the devaluation of fiat currencies.
Overall, the expert expects the coming years to be difficult for the economy, but cryptocurrencies, and Bitcoin in particular, will significantly benefit from this.