Arthur Hayes said that a new monetary policy from the US Fed may play an important role to increase the price of risky assets easily in the next year.
BitMEX is a popular Bitcoin trade platform. In the last couple of years, the backed team changed this platform into a different business based model where they targeted spot trading services as a main part of this platform. This exchange also launched its native token BMEX, so that customers can get a huge discount on their crypto trading fees.
On 9 December, Arthur Hayes, BitMEX founder, shared his opinion on the current stage of the market cycle and also predicted something big for the next year.
Arthur said that it is still unconfirmed whether $15,900 was the bottom of this cycle or if there is something that can test but he believes that 2023 will be something big for the crypto market.
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According to Arthur, the US Fed may introduce a new tight monetary policy in the next year and may start to print huge amounts of fiat money and that situation will be beneficial for all risky assets including Bitcoin.
“I believe the US Treasury market will become dysfunctional at some point in 2023 due to the Fed’s tightening monetary policies. At that point, I expect the Fed will turn the printer bank on, and then boom shaka-laka – Bitcoin and all other risk assets will spike higher,” BitMEX Founder said.
BitMEX Founder also tried to explain the basics of the ups & downs in the money market and said that it is a natural under cycle that means if something is down then surely will go up in the future, so we have to wait for a crypto bull run.
He also revealed that his investment is in those assets which are correlated with bitcoin or Ethereum. According to him, BTC & ETH are reserved assets and if these assets surge then surely related assets will surge to a small degree.
Read also: The Block was funded by FTX’s SBF secretly
In 2023 Bitcoin will spike higher, Says BitMEX Founder
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