Bitcoin’s halving and some moves from the U.S. Federal Reserve and Treasury will cause a cryptocurrency “firesale,” according to Arthur Hayes.
Cryptocurrencies are headed for intense turbulence in the second half of April, spurred by the Bitcoin halving and a Fed “bag of tricks,” says the BitMEX co-founder.
Hayes believed the halving is also timed for when “dollar liquidity is tighter than usual” and outlined his theory on how the United States Federal Reserve and Treasury policies “Could the market defy my bearish inclinations and continue higher? Fuck yeah,” he wrote. “I’m perennially long as fuck crypto, so I welcome being wrong.”
Excerpt from Hayes’ blog post discussing the Fed and Treasury’s “bag of tricks.” Source: Arthur Hayes/Medium
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