BTFD: Bank of Japan's QE Announcement Sparks Crypto Rally as Arthur Hayes Declares It's Time to Buy the Dip

BTFD: Bank of Japan's QE Announcement Sparks Crypto Rally as Arthur Hayes Declares It's Time to Buy the Dip

Arthur Hayes, co-founder of BitMEX, recently tweeted his thoughts on the current state of the markets, particularly in light of the Bank of Japan's recent announcement of quantitative easing (QE). He believes that this is a sign that it's time to "BTFD" or "buy the f**king dip." Hayes is not the only one who believes that this is a good time to buy crypto. Many analysts believe that the recent sell-off in the crypto markets was overdone and that prices are now at a good entry point. The Bank of Japan's announcement of QE is a significant development because it shows that central banks are willing to take action to support the economy. This is likely to lead to a weaker yen and higher inflation, which could be positive for cryptocurrencies. Of course, there is always the risk that the markets could continue to fall. However, Hayes believes that the risk-reward ratio is now in favor of buying crypto. He expects the US Treasury to announce a quarterly refunding announcement (UST QRA) next week, which could inject $300B-$1.5T of liquidity into the markets by the end of the year. Only time will tell whether Hayes' prediction is correct. However, his track record as a successful trader suggests that he is worth listening to.