Bitcoin Will Surge to $20,000, States BitMEX Chief Executive After Fed Prints $53 Bln of QE

Libra Coin News
Wed, 09/18/2019 - 08:27
Yuri Molchan
As the Fed Reserve prints $53 bln of extra cash, the CEO of BitMEX crypto giant says the market should get ready for Bitcoin price to retake 2017 all-time high
Cover image via www.123rf.com
Contents

The other day, the US Federal Reserve Bank (simply known as the Fed) did what many experts in the crypto sphere have spoken about recently – took some quantitative easing measures and printed $53 bln.

Now, Arthur Hayes, the CEO of one of the top-line crypto exchanges, BitMEX, says that Bitcoin may soon reach the ATH of 2017 - $20,000.

The US central bank

The Fed has decreased interest rate on some type of loans that had exceeded 10 percent. Now, after an emergency measure of QE has been implemented, over $53 bln of cash has been injected into the global economy.

Commenting on that, the head of the BitMEX crypto trading giant Arthur Hayes has tweeted:

This is the second time the Fed has interfered by switching on its dollar-printing machine since the financial crisis of 2008. Many believe that that particular event directly drove the mysterious Satoshi Nakamoto (whether it was a single person or a group of developers) to create Bitcoin in the first place.

Recently, the market has proven that Bitcoin price starts growing when the global economy and politics are showing their actual face of uncertainty and instability.

In particular, this happened when the trade war between the US and China broke out earlier this year.

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The Fed was not the only institution that decided to take the path of QE which is believed to be a fast cure when the economy bleeds. The EU central bank has used this measure twice this year, with the recent one happening last week.

Not long ago, Hayes also forecast that BTC would rise to hit $20,000.

Now he seems to be more certain on that. Along with him, the crypto expert and the co-founder of Morgan Creek Digital, Anthony Pompliano, has also been often mentioning a possible QE by the Fed as one of the major reasons for the Bitcoin price soaring.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.


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