Time to buy Bitcoin again? CryptoHayes hopes the good times are back for crypto until mid-2023.
released Feb. 8, industry stalwart Arthur Hayes announced a U-turn on his current crypto investment plans.Current macroeconomic conditions stemming from the United States Federal Reserve previously made Arthur Hayes keen to avoid what he calls “risky assets.”and the Fed’s rate hikes with them, multiple new storms are brewing in the U.S., and the Fed, as well as Congress and the Treasury, will all steer the economy as they see fit, he says.
“As such, the portion of my liquid capital that I intend to eventually use to purchase crypto is missing out on the current monster rally we’re seeing off of the local lows. Bitcoin has rallied close to 50% from the $16,000 lows we saw around the FTX fallout.”in January alone, comparing the risk asset environment to that of 2009 and the start of quantitative easing .This year, the picture is complex — QE has given way to quantitative tightening , where liquidity is removed from the U.S.
“The TGA will be exhausted sometime in the middle of the year. Immediately following its exhaustion, there will be a political circus in the US around raising the debt limit,” the blog post forecast.
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