According to BitMEX co-founder Arthur Hayes, crypto assets are going to enter a new bullish phase due to a change in policy from central banks.
According to Hayes’s latest article, the chief investment officer of crypto investment fund Maelstrom, the Bank of Canada (BOC) and the European Central Bank (ECB) have both chosen to reduce interest rates.
According to Hayes, the actions taken by Canada and Europe indicate a possible worldwide trend toward looser monetary policy, which might lead to an increase in risk assets if the US Federal Reserve follows suit.
“The European Central Bank and the Bank of Canada both lowered interest rates this week, setting off a chain reaction that will propel cryptocurrency prices out of their summer dip in the northern hemisphere. This baseline scenario was unexpected. It was my expectation that the pyrotechnics would begin in August, coinciding with the Federal Reserve’s Jackson Hole conference.”
The crypto veteran states,
“Compared to where I started, the macro environment is different now. Consequently, my approach will also shift. Regarding the enterprises in the Maelstrom portfolio who have sought my advice on the timing of their token launches, I am writing to express my position. So, I say, let’s go for it!
The moment has come to once again invest my surplus of liquid crypto synthetic-dollar funds, also known as Ethena’s USD (USDe), which are now yielding some slick annual percentage yields (APYs). After I get them, I will definitely let readers know what they are. It goes without saying that the crypto bull is roaring back and will soon slay wasteful central bankers.”
Also Read: XRP set for record rise as trend repeats
