Arthur Hayes, co-founder of BitMEX and a former US president Donald Trump tariffs adviser, says that while the US President Donald Trump’s tariffs could disrupt global economic growth in certain ways they may also be just what Bitcoin requires to rise.
“Global imbalances will be corrected, and the pain papered over with printed money, which is good for BTC,” Hayes said In an April 3, X-post.
Bitcoin’s future pump is affected by a number of factors
“Some of y’all are running scurred, but I LOVE TARIFFS,” Hayes said.
He made his comments just one day after the Trump Administration announced its intentions to withdraw from Syria. will hit all countries with a 10% tariff starting April 5. Other countries are facing higher tariffs, including China, which faces a 34 percent rate, as well as the European Union (20%) and Japan (24%).
Hayes explained the positive impact of tariffs on Bitcoin.BTCPrice for several reasons.
Bitcoin’s price at time of publication was $83,150. Source: CoinMarketCap
He said that one of the two is the “weakening” As overseas investors continue selling US stocks, the US Dollar Index DXY is rising. “bring money home.”
April 3, 2019 marked “the largest single-day point loss for the Nasdaq 100 in history,” according The Kobeissi Letter is a trading resource that allows you to trade with other traders.
“The index lost a total of -1060 points and came just 1.5% away from triggering the first circuit breaker since March 2020,” Kobeissi Letter stated.
“This is good for BTC and gold over the medium term.”
Hayes said the Chinese yuan could be weakened by the tariffs placed upon them. “With a 65% effective tariff levied, China could respond by allowing CNY to weaken past 8.00,” Hayes said.
Chinese investors may be forced to consider Bitcoin and other riskier assets to protect their wealth if the yuan weakens.
Hayes also said “we need Fed easing,” Noting the yield on two-year Treasury bills “dumped” Following the announcement of tariffs.
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This was explained by him as an indication that the Federal Reserve is expected to reduce rates, and perhaps restart quantitative ease (QE), to mitigate the negative effects on the economy.
Fed rate cuts also increase liquidity in riskier investments like crypto more attractive to investors.
Source: Arthur Hayes
Jeff Park, the head of Alpha Strategies at Bitwise Invest has long argued Trump’s tariffs would ultimately benefit Bitcoin.
The following is a list of the most popular ways to get in touch with someone. said On Feb. 3, that in a “world of weaker dollar and weaker US rates…risk assets in the US will fly through the roof beyond your wildest imagination.”
“Bookmark this and revisit as the financial war unravels, sending Bitcoin violently higher,” Parks told the media on Wednesday, February 3.
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Source: cointelegraph.com
