BitMEX co-founder Arthur Hayes has advised investors to go long on Bitcoin and shitcoins like DOGE, SHIB in the face of central bank policies.
In his new article, the outspoken BitMEX co-founder Arthur Hayes evaluates the latest macroeconomic developments and their impact on the crypto market.
Calling the G7 central banks the “Group of Idiots,” Hayes criticized the G7 central banks’ policies.
Stating that he will continue to invest in Bitcoin and altcoins due to the G7 central banks’ policies, Hayes said that his previous prediction based on the dollar-yen relationship still holds.
Hayes had previously stated that the FED would print new dollars and engage in unlimited dollar-yen swaps with the Bank of Japan to strengthen the increasingly weak Japanese Yen, causing the Yen to strengthen and the dollar to weaken.
Hayes argues that a weakening dollar could spark a rally in risky assets like BTC.
Hayes also expects the FED to join other central banks in cutting rates, which he believes will send Bitcoin and cryptocurrencies soaring.
Hayes advises investors to go long on Bitcoin and shitcoins like DOGE, SHIB.