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Hayes believes that sharp corrections may occur in the markets due to the upcoming new tariffs, stagnation in credit growth, and a slowdown in employment growth. Evaluating weak employment data from the U.S., Hayes stated, "No major economy can provide credit expansion at a pace that will increase nominal GDP," claiming that this situation limits global economic growth.
Under these conditions, Hayes suggests that Bitcoin could test $100,000, while Ether could decline to as low as $3,000. He also states that the pressure created in the markets by President Donald Trump's new tariffs, which will come into effect on August 1 and 7, should not be underestimated. #Fed Holds Rates Decision#