Oh, I say, it seems our man Arthur Hayes, the erstwhile BitMEX honcho, is at it again, predicting that Bitcoin, that capricious beast of the digital realm, is about to embark on a jolly good jaunt upwards, propelled by none other than a shift in the winds of monetary policy.
In his latest scribblings, Hayes posits that Jerome Powell, the chap at the helm of the Federal Reserve, has been dropping hints that market liquidity is about to burgeon like a well-watered garden in spring. And, if history is any guide, this could very well send Bitcoin into a paroxysm of upward mobility.
Hayes, with a twinkle in his eye, suggests that the Fed’s stance on US Treasury bonds is about to transition from a rather austere quantitative tightening to a more generous quantitative easing. For the uninitiated, QE is like the monetary equivalent of throwing a lavish party: more money, more assets, and hopefully, more economic cheer all around.
“Powell, in his infinite wisdom, has shown that fiscal dominance is not just alive, but thriving. Ergo, I am quite convinced that the tightening, at least where Treasuries are concerned, shall come to a halt sooner rather than later. What’s more, Powell let slip that while the Fed might continue to let mortgage-backed securities slip through its fingers, it will be snapping up Treasuries. This, dear reader, is QE in disguise. And when this little nugget is officially announced, Bitcoin shall ascend with the grace and speed of a rocket. Additionally, with banks clamoring for it, the Fed will grant the SLR exemption, another sly form of QE.”
Our intrepid prognosticator further opines that should his musings on the Fed’s pivot prove accurate, Bitcoin is poised to dance its way to a princely sum of $250,000 by the year’s end. 🚀
“Should my reading of the tea leaves regarding the Fed’s shift from QT to QE for Treasuries be correct, then Bitcoin’s recent dalliance with $76,500 was but a minor setback, and we’re now poised for a grand ascent to $250,000 by the time we ring in the new year. Now, this isn’t an exact science, mind you, but if I were a betting man, I’d wager on Bitcoin hitting $110,000 before revisiting $76,500. Even if the stock market continues its lamentable descent due to tariffs, earnings, or foreign demand, I remain sanguine that Bitcoin’s trajectory is decidedly upwards.”
At the time of this missive, Bitcoin is gallivanting at $82,702, having taken a slight tumble of3.2% over the past day. But fear not, for in the world of cryptocurrencies, today’s dip is tomorrow’s launchpad! 🌌
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2025-04-03 12:23