As December unfurls, Arthur Hayes, the ex-CEO of BitMex, eagerly awaits what he playfully calls “gifts” from an “old white man,” alluding to the anticipation surrounding the upcoming speech by Fed Chairman Jerome Powell.
In a lively message, Hayes underlined his hope for Powell to take a bold step by reducing interest rates, potentially propelling Bitcoin to unprecedented heights.
Hayes’ excitement is grounded in historical trends. December has traditionally been a bullish month for Bitcoin, especially following positive closures in October and November.
The historical trajectory of Bitcoin’s price is leaning towards a bullish trend.
As per a recent analysis by U.Today on BTC’s price history, eight out of the last thirteen years have witnessed Bitcoin finishing the fourth quarter in positive territory. This statistical pattern contributes to the heightened anticipation surrounding the present December, increasing expectations within the cryptocurrency community.
Hayes’ optimism centers around his anticipation of a shift in monetary policy by Powell. The former BitMex CEO foresees a move towards easing monetary policy and reducing interest rates.
In simpler terms, Hayes envisions the metaphorical “money printer” being activated, resulting in more affordable money and an increase in the value of financial assets, with Bitcoin leading the way.
As the crypto community eagerly awaits Powell’s speech, Arthur Hayes’ bold predictions and infectious enthusiasm set the stage for an exciting December. The potential for Bitcoin to reach new heights is closely tied to the Federal Reserve’s potential actions, creating a buzz within the crypto space.
The question lingering in everyone’s mind is: will Powell’s words and actions indeed propel BTC to new heights this December? The crypto world is poised for a thrilling journey.