Bitcoin has jumped to $86,000 following the latest Federal Open Market Committee (FOMC) meeting. According to former BitMEX CEO Arthur Hayes, this is just the beginning.
Arthur Hayes's Prediction
Arthur Hayes believes Bitcoin's recent dip to $77,000 was the bottom. He suggests that April 1 might be a turning point when the Fed could end its policy of quantitative tightening (QT), potentially leading to increased market inflows and a Bitcoin surge.
Potential $90,000 Milestone
Following the FOMC meeting, Bitcoin surged 3.5% to $87,000. Analysts indicate that if Bitcoin closes above $86,351, it could lead to a major rally. Additionally, an increase in the M2 money supply could further drive Bitcoin's price.
Expert Disagreements
Despite Hayes's confidence in the end of QT by April 1, analyst Benjamin Cowen points out that QT is ongoing, with the Fed reducing its balance sheet by $35 billion per month. Still, if the Fed does lower rates, Bitcoin could see significant price increases.
The Bitcoin market remains tense, with upcoming Fed decisions likely to have a substantial impact on the cryptocurrency landscape in the coming months.
