Arthur Hayes Says Bitcoin May Have Already Hit Bottom as US Faces More Money Printing
Summary
- Arthur Hayes said Bitcoin may have already moved past its price bottom.
- He said surging US debt could lead to a de facto yield curve control (YCC) policy.
- Hayes added that suppressing Treasury yields could increase the money supply, creating a favorable backdrop for Bitcoin and altcoins.
Forecast Trend Report by Period
Bitcoin may have already passed its price bottom, with rising US debt potentially setting the stage for policies that cap Treasury yields and support digital assets.
Cointelegraph reported on August 29 that BitMEX co-founder Arthur Hayes sees a chance that Bitcoin has already bottomed.
Hayes focused on the sharp rise in US debt. He said the heavy debt burden could push policymakers toward a de facto yield curve control policy, or YCC. Bitcoin and altcoins tend to react strongly in that kind of liquidity expansion environment, he added.
Yield curve control refers to a policy under which authorities keep government bond yields from rising above a certain level. Hayes said any US move to suppress Treasury yields in that way would ultimately lead to a larger money supply.
Uk Jin
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