Arthur Hayes Predicts Canadian and Euro Rate Cuts Will Boost Cryptocurrency
CryptoNewsTerminal Staff07 Jun, 2024
Arthur Hayes Predicts Canadian and Euro Rate Cuts Will Boost Cryptocurrency
Hayes Predicts Rate Cuts Will Positively Impact Crypto BitMEX founder Arthur Hayes recently predicted that the recent rate cuts by the Bank of Canada and the European Central Bank will have a positive impact on the cryptocurrency market. "The fireworks of Canadian and ECB rate cuts will soon have a positive contagion effect on crypto," Hayes wrote in a blog post. Hayes noted that the Fed's Jackson Hole conference in late August did not bring about the rate cuts he had anticipated, but he believes that the current macro backdrop suggests that the Fed is likely to pivot to an easing cycle in the autumn. He added that peripheral central banks' moves to ease monetary policy is significant and that crypto traders should "front-run this by buying bitcoin first and then the altcoins." When asked about the timing of a token launch by Maelstrom, a VC founded by Hayes and former BitMEX Head of Business Development Greg Dwyer, Hayes replied, "Let's f&*king go."
