Arthur Hayes: The US-Japan currency swap policy may trigger a surge in cryptocurrency

ChainCatcher news, BitMEX founder Arthur Hayes pointed out in a recent article that to curb the depreciation of the yen, the Federal Reserve may reach an unlimited dollar-yen swap agreement with the Bank of Japan. This move is equivalent to the Federal Reserve implementing yield curve control, which will trigger a significant depreciation of the dollar.

In Hayes' view, the depreciation of the dollar means a sharp increase in global dollar liquidity. This will be beneficial for the cryptocurrency market led by Bitcoin. He predicts that if the central banks of the U.S. and Japan indeed adopt a "blunt" currency swap policy, it will trigger a new wave of increases in cryptocurrencies. At that time, the price of Bitcoin is expected to challenge the $1 million mark and even set a new historical high.

Hayes advises cryptocurrency traders to closely monitor future fluctuations in the dollar-yen exchange rate and to appropriately increase their cryptocurrency allocations. He emphasizes that once the market discovers that the U.S. and Japan are conducting large-scale currency swaps, and the scale of the swaps continues to expand, it is very likely to indicate that a cryptocurrency bull market is about to arrive.