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BitMEX Founder Releases New Bitcoin Forecast

There are various optimistic Bitcoin predictions these days, amidst the market recovery. Check out the latest ones about Bitcoin below.

New Bitcoin prediciton is out

At the moment of writing this article, BTC is trading in the green and the king coin is priced at $21,440.

It’s been just revealed that the former BitMEX CEO Arthur Hayes said that he expects Bitcoin (BTC) to bottom out and quickly recover as he predicts the Federal Reserve will once again inject trillions of dollars to the financial system.

It’s worth noting the fact that he also said that he’s keeping a close watch on how the Japanese yen (JPY) and the Euro (EUR) perform against the US dollar.

According to Hayes, the sustained strength of the US dollar against these currencies will likely compel the Fed to intervene and flip the switch on the money printing machine.

“Must watch: The JPY and EUR. Expect an ‘intervention’ to weaken the USD if JPY > 150 and or EUR < 0.90. ‘Intervention’ means the Fed printing money. Printing money means BTC number go up.”

As the online publication the Daily Hodl notes, YCC is the act of expanding monetary supply to purchase government bonds and reduce yields in an effort to weaken the nation’s fiat currency.

“Usually, Japan and the EU are happy to have a weak yen or euro versus the rest of the developed world. It allows their export industries to gain market share, as their goods are cheaper versus other countries.”

On the other hand, Hayes says this time is different as surging inflation has made it challenging for citizens of Japan and the EU to afford everyday expenses.

85% of countries will adopt this specific class of digital assets, according to the latest reports. This is great for mass adoption, and you can learn more details about it in our previous article.

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