BitMEX co-founder Arthur Hayes predicts bitcoin (BTC) could soar to $70,000 once the Federal Reserve lowers interest rates.
A spike is possible as early as March 2024, Hayes wrote on his blog.
The Fed will revise fiscal policy as soon as positive signals emerge. This primarily relates to consumer prices in the US.
Bitcoin still remains above $20,000, which means that investors are not going to a large-scale withdrawal of capital from the cryptocurrency.
The US economy is in a difficult situation and the authorities have to flood it with money.
Such a policy will inevitably weaken the attractiveness of government debt, and traders will prefer to go into BTC, which offers more financial freedom, Hayes emphasized.