Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Arthur Hayes
Why Bitcoin and Ethereum Have Suddenly Pumped: Arthur Hayes
Arthur Hayes – co-founder of the crypto exchange BitMEX – broke down the macro backdrop to Bitcoin and Ethereum’s latest price pump. The former CEO argued that the U.S. Treasury is responsible for the rally, due to upcoming plans to alter the supply of Treasury bills in the market. RRPs, T-Bills, and Bitcoin Both Bitcoin and Ethereum broke out of trading ranges below $20,000 and $1400 respectively for the first time in weeks on Tuesday. The move was largely unexpected,…
3 years ago
Central Banks Will Print More Money, Push Crypto Prices: Arthur Hayes
In a Friday blog post, Bitmex co-creator Arthur Hayes shared his thoughts on how fiscal authorities will respond to unfavorable economic conditions. This is after the Bank of England revealed it would buy an unlimited amount of government bonds to palliate the effect of the current inflation. Indeed, the entrepreneur believes central banks globally will soon turn to money printing as a solution to the currently worsening inflation. He is also certain this will drive up the price of digital…
3 years ago