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Arthur Hayes, former CEO of BitMEX and current head of Maelstrom, anticipates a bullish turn for cryptocurrencies following recent interest rate cuts by major central banks. The Bank of Canada initiated the trend, reducing its rates to 4.75%, with the European Central Bank quickly echoing this move, dropping their rates to 4.25%. These decisions have reinvigorated the crypto market, hinting at a potential surge out of its recent stagnation.
Despite expectations that significant policy changes would first appear at the U.S. Federal Reserve’s Jackson Hole Symposium in August, the rapid actions of the Bank of Canada and ECB have set a promising stage. Hayes hinted at further surprises, particularly eyeing the upcoming Bank of England meeting for potential rate cuts, which could further boost crypto values.
In a bold statement, Hayes advised investors to capitalize on this trend by investing in Bitcoin and other cryptocurrencies. His confidence is bolstered by his previous accurate prediction in early May, where he foresaw Bitcoin’s rise towards $70,000 amid subtle shifts in U.S. monetary policy. According to Hayes, now is the opportune moment to invest, as central banks seem poised to continue easing monetary policies.
