Arthur Hayes "Fed Treasury purchases a catalyst for Bitcoin (BTC) to surpass 200,000 dollars"

There is a prospect that Bitcoin (BTC) could rise to 200,000 dollars if the U.S. Federal Reserve's Treasury purchase policy is perceived as a liquidity supply equivalent to quantitative easing (QE).

On the 19th (local time), according to crypto asset (cryptocurrency) specialist media BeInCrypto, BitMEX co-founder Arthur Hayes said the Fed's Treasury purchases (RMP) policy could act as a bullish catalyst for Bitcoin depending on changes in market perception.

He said, "About 40 billion dollars in liquidity is supplied each month through the Fed's RMP, but its share relative to the total dollar circulation is lower compared to 2009," and "At current asset price levels, the credit spillover effect is limited."

He added, "Because of the perception that RMP is weaker than QE in terms of credit creation, and uncertainty about whether the policy will continue after next April, Bitcoin is likely to remain in an 80,000~100,000 dollar range until the end of the year."

However, he projected, "The moment the market accepts RMP as a liquidity supply policy equivalent to QE, Bitcoin could recover to 124,000 dollars and then rise to 200,000 dollars in a short period."

Hayes added, "March next year will be the point at which expectations for the RMP's asset price-increasing effects peak," and "Even if a correction occurs afterward, a strong support level is likely to be formed around 124,000 dollars."