It has been just revealed that the price of Bitcoin could explode by more than 2,700%. There is mentioned a specific price trigger, as you will see below.
Bitcoin price could soon explode
Arthur Hayes, the co-founder of BitMEX, has reiterated his prediction that Bitcoin (BTC) will eventually hit a price of seven-figures.
According to Hayes, this prediction will be realized when a monetary policy tool called yield curve control (YCC) comes into play, acting as a catalyst for Bitcoin’s value to reach $1 million, representing a gain of approximately 2,738% from its current level.
Central banks use the yield curve control to influence the long-term interest rates by buying long-term bonds as much as possible, thereby preventing the rate from rising above the intended target.
Hayes believes that the entire United States government is enabling a loose monetary policy environment, even as the Federal Reserve is tightening its policies.
Bitcoin is trading at $34,230 at the time of writing.
The founder of BitMEX made a prediction earlier this year in March that Bitcoin would reach seven figures.
He explained that China’s decision to loosen its monetary policy would lead to a surge in Bitcoin’s value to $1 million.
Hayes further added that the recent decision of the Federal Reserve to halt the interest rate hike indicates that it’s time to invest in financial assets.
According to him, this move by the Fed would prompt other central banks to ease their monetary policies as well.
“Over to you BTC, let’s… go!
I shall increase the pace of my rotation out of treasury bills and into BTC and shitcoins.
Now that the Fed has paused over two meetings, every other central bank has cover to print. Expect massive stimulus from China, Europe, and Japan.“
There are all kinds of important crypto predictions available and most of them regarding Bitcoin are more than optimistic.
