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As December unfolds, Arthur Hayes, the former BitMex CEO, expresses his eagerness for what he playfully terms as "gifts" from an "old white man," referring to the anticipation surrounding Fed Chairman Jerome Powell's upcoming speech.
In a spirited message, Hayes emphasized his desire for Powell to make a bold move by slashing interest rates and propelling Bitcoin to new heights.
Hayes' enthusiasm is not without cause. Historically, December has proven to be a bullish month for Bitcoin, particularly when preceded by positive closures in October and November.
Bitcoin price history is on bullish side
According to a recent U.Today review of BTC's price history, eight out of the last thirteen years have seen Bitcoin conclude the fourth quarter in the green zone. This statistical trend adds to the anticipation surrounding the current December, heightening expectations within the cryptocurrency community.
The focus of Hayes' optimism lies in his anticipation of a monetary policy shift by Powell. The former BitMex CEO predicts a pivot toward easing monetary policy and lowering interest rates.
In simpler terms, Hayes expects the metaphorical "money printer" to be activated, resulting in cheaper money and an upswing in the value of financial assets, with Bitcoin at the forefront.
As the crypto community eagerly awaits Powell's speech, Arthur Hayes' bold predictions and contagious enthusiasm set the stage for an exciting December. The prospect of Bitcoin ascending to new heights is intricately linked to the potential actions of the Federal Reserve, creating a buzz within the crypto space.
The question on everyone's mind is: will Powell's words and actions indeed send BTC to the moon this December? The crypto world is poised for a thrilling ride.
Tomiwabold Olajide
Denys Serhiichuk
Godfrey Benjamin
