Well, bless my socks! Arthur Hayes, he of BitMEX fame (or infamy, depending on your point of view 😉), reckons Bitcoin (BTC) and Ethereum (ETH) are about to embark on a jolly old rally, potentially reaching stratospheric new heights. Imagine that!
According to Hayes, posting on that modern-day oracle, X (formerly Twitter, or as I like to call it, the bird app🦤), Bitcoin could barrel past its current record of, wait for it, $108,000! All thanks to Jerome Powell at the Fed, who apparently plans to ease up on the quantitative tightening (QT) by April 1st. And no, that’s not an April Fool’s joke (hopefully!).
Hayes, in his infinite wisdom (and possibly after one too many espressos ☕), suggests this QT reduction is practically a green light for the Fed to switch gears to quantitative easing (QE). Apparently, QE is like giving the economy a massive shot of espresso, which in the past has sent crypto prices soaring higher than a startled pigeon.
For those of you not fluent in central bank gibberish, QE is when central banks fire up the printing presses (figuratively, of course – I doubt they still use printing presses) and pump out more money to buy up assets. This floods the financial system with cash, which, theoretically, encourages spending and investment. What could possibly go wrong?
Here’s Hayes in his own, slightly manic words:
“I bet BTC hits $110,000 before it retests $76,500.
Why? The Fed is going from QT to QE for Treasuries. And tariffs don’t matter cause ‘transitory inflation.’ [Jerome Powell] told me so…
My grammar was a bit off. What I mean is that the price is more likely to hit $110,000 than $76,500 next. If we hit $110,000, then it’s yachtzee time and we ain’t looking back until $250,000.”
Yachtzee time, you say? I’ll start packing my bags… assuming I can figure out what ‘yachtzee time’ even is🤔. As of this very moment, Bitcoin is changing hands for a mere $87,641. Pocket change, really.
And what about Ethereum, you ask? Well, Hayes, never one to be shy with his pronouncements, predicts ETH will reach a new all-time high before Solana (SOL), its layer-1 rival. The gauntlet has been thrown!
“ETH to $5,000 before SOL to $300. Who is with me?”
Currently, ETH is floating around $2,068, while SOL is dawdling at $144. So, there you have it. Bold predictions, possible riches, and the faint aroma of economic shenanigans. What a time to be alive! 🤪
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2025-03-26 10:21