‘Bailout Is Coming—Huge Predicted Fed ‘Money Printer Flip To Spark A $20 Trillion Bitcoin, Ethereum, XRP And Crypto Price Boom

Bitcoin and cryptocurrencies, including major coins Ethereum and XRP XRP: – has risen sharply in recent weeks (despite a dire warning from the Federal Reserve).

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The price of Bitcoin passed $50,000, adding billions of dollars to the combined Bitcoin, Ethereum, XRP and crypto markets, prompting the US government to declare a crypto “state of emergency”.

Today, as a respected analyst reveals the unexpected theory behind Bitcoin's recent price surge, crypto trader Arthur Hayes predicts that a Fed reversal will push Bitcoin's price to $1 million, giving Bitcoin a market cap of nearly $20 trillion .

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"This is a time of bank failures and a battle for money between [Fed Chair Jerome] Powell and [US Treasury Secretary Janet] Yellen," wrote Hayes, who founded crypto exchange Bitmex and now runs a family office -foundation management, quoted by Eks frese. The wall comes less than a year after the collapse of a Silicon Valley bank, as a new banking crisis is brewing. In May, First Republic became the largest US lender to fail since 2008.

Community Bancorp of New York this week

NYCB:

(NYCB) shares fell after surprise losses.

"[Powell] said that the US [economy] and banks were strong, very strong," Hayes added. “The NYCB claims otherwise. Who is right: the market or the central banker? Accumulation of time and interest are two things that even neo-Keynesians cannot desire. help is coming

Hayes predicted that the price of Bitcoin would reach $1 million if the Fed and the US government had to resort to another bailout, on top of the enormous costs piled up by the Covid pandemic and the lockdown.

Last year, a tech investor and ex-Coinbase

piece of money

Prominent tech investor Balaji Srinivasan made a similar bet that Bitcoin would reach $1 million within a few months, but had to admit defeat when he failed to collect.

Srinivasan then predicted that the US dollar would collapse against Bitcoin, while the Russian president warned this week that the Biden administration was "killing" the US dollar.

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Forbes Biden 'kills' US dollar, Putin warns of $34 trillion as Bitcoin rises Billy Bambra .

Meanwhile, observers of Bitcoin, Ethereum, XRP and other crypto markets welcomed the recent rise in Bitcoin prices.

"The market has definitely entered a bearish state that we last saw a month ago," Alex Kuptykiewicz, senior market analyst at FxPro, wrote in an emailed commentary.

“Last month's corrective pullback and early February consolidation helped create the momentum needed for a real breakout. Bitcoin:

BTC:

is up nearly 10% over the past four days and is trading at $46,200. All eyes are now on whether the correction after the initial reaction to the launch of the Bitcoin spot ETF can surpass the previous high.

Bank bailout in 2023 and the Fed | First Republic + Bank of Silicon Valley