TechFlow reports, BitMEX founder Arthur Hayes published a new article titled "Group of Fools," stating that G7 central banks are attempting to stabilize markets by narrowing the interest rate differential with the Japanese yen. The Bank of Japan, holding a large amount of Japanese government bonds, cannot raise interest rates like other G7 nations. Despite inflation exceeding targets, some central banks are still cutting rates.
Arthur Hayes predicts this will drive a recovery in the cryptocurrency market and advises investors to increase exposure to Bitcoin and other cryptocurrencies. He also notes that the Federal Reserve is unlikely to cut rates at its upcoming June meeting, despite significant implications for the USD/JPY exchange rate.
In the article's conclusion, Arthur Hayes states that the crypto bull market is reawakening and is about to pierce through the skin of reckless central bankers. Go long on Bitcoin, then go long on altcoins.
