BitMEX founder and Maelstrom CIO Arthur Hayes says Donald Trump is buying Bitcoin as most crypto investors think 
$72,362 He stated that he was not in favor of it. He stated that he is watching what will happen in the crypto market after the November elections.
The Effect of the US Election on Cryptocurrencies
Hayes claimed that the US election result will not have a major impact on the crypto space regardless of which candidate emerges victorious. He also reiterated his view that the coming to power of Trump or Kamala Harris could have a positive impact on crypto assets as it would trigger similar economic steps such as money printing policies and debt increase.
“Crypto investors think Trump is Bitcoin friendly, but this is wrong. “He did not develop positive policies for crypto during his four years in office.” –Arthur Hayes
Hayes said that the same thing will happen again and that Trump will not take any positive steps for cryptocurrencies if he is elected.
China and Crypto
He drew attention to the China factor in his assessment of the future of cryptocurrencies. Hayes argued that China’s economic stimulus packages will support Bitcoin’s growth. He stated that China has lowered interest rates and increased liquidity to combat the current economic recession, creating a new support channel for Bitcoin.
“China’s economic stimulus will create new support channels for Bitcoin and other crypto assets.” –Arthur Hayes
Hayes stated that printing money will increase inflation and Bitcoin will become more attractive as a hedge against inflation. He emphasized that these changes in China’s monetary policy will increase Bitcoin’s global appeal.
The Fed stated that interest rate cuts were “the calm before the storm.” In response to this situation, he predicted that Bitcoin would perform well in the event of war, contrary to the general opinion, as China began to increase liquidity.
As a result, the economic policies of the US and China could provide significant support for crypto assets such as Bitcoin. Hayes thinks that the combination of these factors will have positive effects on the future of Bitcoin.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
