BitMEX founder predicts: US-Japan currency swap may trigger a surge in cryptocurrencies, Bitcoin is expected to hit $1 million

On May 21st, BitMEX founder Arthur Hayes pointed out in his latest article that in order to curb the depreciation of the yen, the Federal Reserve may reach an unlimited US dollar to yen swap agreement with the Bank of Japan. Hayes believes that this move is equivalent to the Federal Reserve implementing yield curve control, which will cause a significant depreciation of the US dollar. A depreciation of the US dollar means a sharp increase in global US dollar liquidity. This will benefit the cryptocurrency market led by Bitcoin. If the US and Japanese central banks really adopt a "rough and simple" currency swap policy, it will trigger a new round of cryptocurrency price increases. At that time, the price of Bitcoin is expected to break through the $1 million mark and even set a new historical high.

Hayes suggests that cryptocurrency traders closely monitor the changes in the future US dollar to yen exchange rate and appropriately increase their cryptocurrency allocation. Once the market discovers that the US and Japan are conducting large-scale currency swaps and the scale of the swaps continues to expand, it is likely to mean that the cryptocurrency bull market is coming.