The former head of the cryptocurrency exchange BitMEX Arthur Hayes believes that Bitcoin will be able to recover quickly after the complete collapse because the U.S. authorities will restart the printing press. He wrote about it in his personal blog.

According to Hayes, the continuous tracking of quotations of the Japanese yen and the euro allows him to make forecasts. He thinks the dollar may weaken soon, which will lead the US Federal Reserve to the decision to print more money. This, in turn, will cause bitcoin to rise, the former BitMEX executive said.

Japan and the European Union themselves used to help keep their currencies low. They did it to ensure competitiveness of their goods in foreign markets at the expense of relatively low prices. In the current reality, Japanese and European citizens are beginning to experience difficulties in maintaining the same standard of living. The growing inflation rate is to blame, Hayes wrote in his blog.

Other experts believe that the current situation on the currency market, where the euro and dollar are at one level, brings only harm, including bitcoin and the entire cryptocurrency industry as a whole.