It seems that there are two essential factors that could bring an explosion to the crypto market. Check out the latest reports about this below.
AI and money printing to trigger bullish crypto moves
According to Arthur Hayes, one of the co-founders of BitMEX, there are two significant factors that will lead to a massive bull market for the digital assets industry.
During an interview with Crypto Banter, Hayes explained that the commercialization of artificial intelligence (AI) and the historical amount of money printing by the Federal Reserve will lead to this outcome.
Hayes presented a thesis called “double happiness” at Token2049, which explained that these two factors combined will result in the most epic bull market for crypto assets, as well as other risky assets around the world.
Hayes predicts that digital assets will benefit from the significant amounts of debt that economic powerhouses, such as the US, Europe, and China, will be issuing.
After researching the projected amount of debt to be issued by the US, China, Europe, and Japan, Hayes was surprised by the high numbers.
He believes that the central banks’ efforts to save the government bond markets will result in an excessive amount of money being printed over the next two to three years.
As a result, he is optimistic about Bitcoin, cryptocurrency, certain stocks, and pessimistic about fiat currency because trillions more dollars will be printed.
The latest news in the crypto space
According to Martin Bednall, the CEO of Jacobi Asset Management and a former managing director at BlackRock, regulators in the US are likely to approve all applications for spot Bitcoin exchange-traded funds (ETFs) at once.
Bednall made this prediction during a panel discussion at the Digital Asset Summit in London hosted by CCData.
He believes that the US Securities and Exchange Commission (SEC) has a strong incentive to approve the applications simultaneously, which would have a positive impact on the market. Check out our previous article in order to learn more details.