Earlier this month BitMEX’s CEO, Arthur Hayes predicts Bitcoin could reach $20.000 and once again Hayes claiming that Bitcoin price will surge to $20,000 but this time his prediction is based on Federal Reserve’s Rescue operation.
A red alert flashed when the borrowing rates spike overnight on Monday, creating chaos that the Federal Reserve was losing control.
On Tuesday, the Federal Reserve also known as Fed stepped into financial markets and prints $53 bln of extra cash out of thin air as an emergency operation to keep short term interest rates from rising, this is the first time the central bank carry out this type of operation since the great recession.
This news report sparked a lot of discussion on the action of Fed and it’s possible consequences, the crypto experts come back with a bullish Bitcoin forecast, Experts believe that Fed’s action could result in Bitcoin price surge.
The Federal Reserve has decreased the interest rates on loans exceeding the 10 percent, after a repo rescue operation been initiated by FED. On which the CEO of Bitmex and crypto trading expert Arthur Hayes commented that this action taken by Fed could push Bitcoin’s price to 2017 all-time high of $20,000.
— Arthur Hayes (@CryptoHayes) September 18, 2019
Almost a week back, The European Central Bank (ECB) also cut its key interest rate and reintroduced a major stimulus program, which resulted in a sharp decline of Euro against Dollar.
This move is criticized by experts and it is widely believed that this move by Fed and ECB could accelerate QE4eva Phenomenon as described by Arthur in his tweet. Though it’s clear that Arthur is bullish on bitcoin and he is extremely confident in his forecast.