Former BitMEX CEO Arthur Hayes says China seems to be prepping up to infuse the economy with overflowing credit thereby pushing Bitcoin (CRYPTO: BTC) and thus broader cryptocurrency industry higher.
What Happened: Hayes says that the U.S. and China are friends again and with this, the “Chinese money printer will go brrr.”
He goes on to add, “Let’s take a look at how the Middle Kingdom is about to throw gasoline on the raging fire that is the incipient crypto bull market.”
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Hayes highlights how the U.S. monetary policy will cushion more favorable conditions for Chinese authorities for issuing significant amounts of yuan credit into the Asian country’s struggling property sector.
Beijing has only one way out to open the doors of ...