📉 Former BitMEX CEO Arthur Hayes predicts that the cryptocurrency market will respond to the Bitcoin bull market in 6-12 months.
- Hayes believes the bull market began on March 10, when the Federal Deposit Insurance Corporation took over Silicon Valley Bank.
- The Fed created the BTFP program, offering banks loans for up to a year in exchange for providing “qualified assets” as collateral.
“This has pushed traders to consider assets with a fixed supply, such as Bitcoin.
Hayes is confident that the crypto industry will be in a good position, regardless of the Fed's actions.