Arthur Hayes Predicts Crypto Bull Market in 2023
CryptoNewsTerminal Staff12 Aug, 2024
Arthur Hayes Predicts Crypto Bull Market in 2023
A crypto bull market could be on the horizon for 2023, according to BitMEX co-founder Arthur Hayes. In a recent Medium post, Hayes predicted that the US Treasury will inject "liquidity" into the markets this year, which could offset any selling pressure on Bitcoin (BTC) caused by a rising yen. Hayes estimates that Treasury Secretary Janet Yellen will inject between $310 billion and $1.5 trillion into the markets by the end of the year. He believes that this liquidity injection, combined with the Federal Reserve's rate cuts, could prompt China to loosen its monetary policy, which would "create a beautiful crypto bull market in 2023 driven by the US and China."
