In his latest analytical review of The Easy Button, Arthur Hayes emphasized that any actions that may be taken in connection with the current weakness of the yen will cause further depreciation of the US dollar, and, as a result, will increase the price of Bitcoin:
“With the yen weakening, my math is that inflows into the Bitcoin space will push the price up to $1 million and perhaps even more.”
According to the expert, the weakening of the yen will entail actions on the part of the Chinese authorities, who may try to devalue the yuan in order to maintain the competitiveness of their goods. If the yuan weakens, US manufacturing corporations will find themselves in a difficult situation – they will be forced to locate their facilities in other countries.
According to Arthur Hayes, the US Federal Reserve System (FRS) may begin to exchange printed dollars for yen, and then the Bank of Japan will use the funds received to intervene in the foreign exchange market to prevent a sharp weakening of the national currency.
The expert suggested that if the Fed acts incorrectly, the hegemony of the dollar as the world's reserve currency will end. Institutional investors will then begin to buy shares of US-listed spot Bitcoin ETFs, and Bitcoin will become the best-performing asset in a global fiat currency depreciation.
Earlier, Arthur Hayes suggested that the coming months will be the most successful for investing in cryptocurrencies, and in the fall the market will begin large-scale growth.
Source: Bits
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