According to Arthur Hayes, CEO of the BitMEX crypto-derivative exchange, due to emergency measures of the US Federal Reserve, bitcoin can update its historical maximum.
“They do not stop practicing quantitative easing. If the Fed prints new money once again, then you can wait for bitcoin for $ 20,000, ”he wrote, commenting on an article by the Zero Hedge portal, which is called“ The Fed Has Again Lost Control over Bets ”. Today, the US Federal Reserve announced a decision on the interest rate, once again lowering it to 1.75-2%.
On Tuesday, the Fed conducted an operation to provide liquidity due to the impulse growth of the interbank repo rate. This practice was last used in 2008 during the financial crisis.
Travis Kling, the cryptocurrency fund manager, has a similar opinion to Hayes. He believes that Bitcoin has certain characteristics that are inherent in the instruments that are protective against the manifestations of the monetary policy of the Central Bank of the USA and Europe.
“From the point of view of global macroposition, this is an interesting time. Everything suggests that cryptocurrencies were created just for such a time, ”he told the CNN audience. Kling calls for a distinction to be made between “non-governmental, global, decentralized means of accumulation with a fixed emission”, which is Bitcoin, with other digital assets.
“Today the world needs bitcoin more than yesterday. And tomorrow he will be needed even more than today, ”Kling gave an interesting quote.
“In the current realities, the central banks of many countries compete in devaluing their own national currency by introducing low or even negative interest rates, conducting quantitative easing and using other instruments to reduce the cost of fiat currencies. However, against which assets do they depreciate the currency? Against those with demonstrable deficiency. In this regard, bitcoin is even better than gold. It is the hardest currency in the history of mankind, ”he also said.
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