As December draws to a close, former BitMex CEO Arthur Hayes says he’s excited about what he jokingly calls “gifts” from a “old white man,” a reference to the Fed Chairman Jerome Powell’s forthcoming address.
Hayes expressed in a passionate statement his hope that Powell will take a risk by cutting interest rates and taking Bitcoin to new heights.
Hayes has good reason to be enthusiastic. December has historically shown itself to be a bullish month for Bitcoin, especially when good closes in October and November come before it.
Bitcoin price history is on bullish side
A new analysis of Bitcoin’s price history by U.Today indicates that, for eight of the previous thirteen years, the cryptocurrency has finished the fourth quarter in the green. The cryptocurrency community’s hopes are raised by this statistical tendency, which heightens the excitement around the current December.
Hayes’s confidence is centred on his expectation that Powell would change his monetary policy. A shift towards loosening monetary policy and decreasing interest rates is anticipated by the former CEO of BitMex.
To put it another way, Hayes anticipates that the so-called “money printer” will come into action, leading to cheaper money and an increase in the value of financial assets, with Bitcoin leading the way.
The crypto community is anticipating Powell’s speech with great anticipation, and Arthur Hayes’ audacious forecasts and infectious energy have created a buzz for an explosive December. There is a lot of excitement in the cryptocurrency industry about the possibility that Bitcoin may reach new heights, which is closely related to the possible actions of the Federal Reserve.
Is Powell really going to launch Bitcoin to the moon in December, as everyone is wondering? The crypto space is about to embark on an exciting journey.
