Arthur Hayes Predicts Bitcoin Will Jump Driven by Oil Rally

Arthur Hayes, the former CEO of BitMEX, believes that a Bitcoin rally could be sparked by a global oil crisis.

In a report published last week, Hayes outlined a potential scenario in which a sharp increase in hydrocarbon prices would create favorable conditions for the growth of digital currencies, particularly Bitcoin.

In this situation, the United States, as a leading economic power, will have to increase its own oil production. The Fed will need to ease the monetary rate to stimulate business activity in the energy sector. As soon as the regulator starts lowering rates, capital will return to risky assets, including cryptocurrencies.

Hayes also suggested that the Federal Reserve’s softening of monetary policy and the limited supply of Bitcoin could contribute to a rise in its value, as the US dollar loses ground.