PiCK
Arthur Hayes: "If Powell delivers a hawkish speech at Jackson Hole, ETH could be adjusted down to $4,000"
Summary
- Arthur Hayes predicted that if Powell makes hawkish remarks at the Jackson Hole speech, Ethereum (ETH) could adjust down to $4,000.
- Hayes stated he does not trade based on rate cut expectations, and even if Powell does not cut rates, the government will find ways to provide liquidity.
- He mentioned that, just like in 2022, a sudden shift to a hawkish stance could trigger a sharp market drop.
Arthur Hayes, co-founder of BitMEX, predicted that if Fed Chair Powell makes hawkish remarks during today's scheduled speech at Jackson Hole, Ethereum (ETH) could be adjusted down to $4,000.
According to virtual asset (cryptocurrency) specialist media BlockBeats on the 22nd (local time), Hayes appeared on the podcast 'Crypto Banter' and analyzed, "If Fed Chair Powell of the U.S. central bank takes a hawkish (monetary tightening) stance during the Jackson Hole speech, Ethereum (ETH) could temporarily adjust down to $4,000."
He stated, "Personally, I don't trade based on the assumption of interest rate cuts," adding, "Even if Powell doesn't lower rates, the government will eventually find a way to provide liquidity."
He continued, "The market could repeat a situation similar to 2022. At that time, there were also expectations for a rate cut, but the market plunged due to sudden hawkish remarks," he added.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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