Arthur Hayes: China's stimulus measures will drive up cryptocurrency

ChainCatcher news, BitMEX founder Arthur Hayes published a blog post titled "Let's Go Bitcoin," stating that China's stimulus measures will inject trillions of dollars into the financial markets and drive up cryptocurrency prices. The quantitative easing by the People's Bank of China and the re-acceleration of bank credit growth will take time, and its impact will be undeniable, which actually provides an excellent buying opportunity at present. In August 2015, after the unexpected devaluation of the yuan, the price of Bitcoin rose from $135 to $600, nearly a fivefold increase in less than three months.