Home Ethereum Arthur Hayes explains why he’s still bullish on Ethereum and defines Bitcoin’s new role

Arthur Hayes explains why he’s still bullish on Ethereum and defines Bitcoin’s new role

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Arthur Hayes explains why he’s still bullish on Ethereum and defines Bitcoin’s new role

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Arthur Hayes, a prominent crypto enthusiast and one of the most popular cryptocurrency analysts today, has once again shared his point of view on the current state of the market, wrapping his opinion in the already familiar essay format. In his new article, Hayes once again dives deep into the topic of US Federal Reserve monetary policy, but doesn’t forget to express his thoughts on Ethereum and Bitcoin.

Is Ethereum destined to rise?

Skimming through an in-depth analysis of Fed actions, Hayes once again expresses his bullish position on Ethereum in his new essay. According to the author, fusion in September will lead to a positive price movement for the leading altcoin, regardless of US Dollar liquidity conditions. A reduction in ETH issuance and positive reflexivity between price and network activity should help ETH achieve a positive price effect, the analyst believes.

That said, these factors are so powerful, according to Hayes, that they can overcome any tightening of monetary policy, even if price movement is lower than expected.

Bitcoin: real-time smoke detector

As for bitcoin, in the opinion of the former Bitmex boss, it has become a powerful correlating, and sometimes even outperforming, indicator of global US dollar liquidity conditions. Since BTC represents an organization of monetary relations of the company different from the traditional, it has turned into a kind of real-time smoke alarm. If the dollar system generates a surplus, Bitcoin is ready to absorb it, the analyst concludes.

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