BitMEX Founder Arthur Hayes Says One Catalyst Could Reignite the Crypto Market and Trigger an ‘Autumn Rally’
BitMEX crypto exchange founder Arthur Hayes is detailing a scenario that could trigger a bull cycle for the digital asset market.
Hayes says in a new blog post that China could allow its citizens to invest in crypto at a time when there’s a hostile climate for digital assets in the United States.
According to the BitMEX co-founder, the participation of Chinese investors could trigger a rally in the crypto market.
“The return of the Chinese crypto trader through the financial pipes of Hong Kong will reignite the market at the same time the broke-ass American mass affluent are effectively shut out.”
Hayes says that the weakening of the world’s second-largest economy will result in monetary policy easing and some of the resources will flow into the crypto market.
“The less the Chinese economy grows, the more credit will be issued. Then the currency will weaken, capital will be allowed to ‘flee’ into appropriate vehicles, and finally, the crypto capital markets will be provided with the spark to hopefully start the autumn rally.”
According to Hayes, China will reduce the amount of assets the country holds in the West and this will ultimately benefit Bitcoin investors.
“The mere act of China weakening its currency and allowing loyal comrades to buy Bitcoin derivatives in response reduces the amount of Western fiat assets the country holds. The more reluctant China is to purchase US Treasuries with its export earnings or to hold USD (US dollar) assets in any form, the harder the US must work to ensure its citizens’ capital can’t leave… Since the usual buyer of long-term debt, China, is on strike. It’s a positively reflexive relationship that should deliver glorious returns to Lord Satoshi’s faithful.”
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post BitMEX Founder Arthur Hayes Says One Catalyst Could Reignite the Crypto Market and Trigger an ‘Autumn Rally’ appeared first on The Daily Hodl.
Go to Source
Author: Daily Hodl Staff
