Arthur Hayes Predicts Bitcoin Stability Amid Market Volatility
Despite recent market turmoil, Arthur Hayes foresees Bitcoin stabilizing between $60,000 and $70,000 until August, citing potential for gradual upward movement.
Arthur Hayes, former BitMEX CEO, offers insights into Bitcoin recent market behavior, indicating a period of stabilization amidst the ongoing volatility. In a recent blog post, Hayes acknowledges the challenges faced by Bitcoin, with its value plummeting over 19% since March.
However, he remains optimistic about the cryptocurrency future, suggesting that it has reached a local bottom and predicting a slow upward trend in the coming months. Hayes attributes the recent 12% price retreat to factors like the U.S. tax season and the “sell the news” effect post-halving. He also discusses the implications of the Federal Reserve quantitative tightening strategy, suggesting that increased liquidity in financial markets could benefit cryptocurrencies.
Online advertising service 1lx.online
Hayes envisions a scenario where Bitcoin gradually climbs back, stabilizing between $60,000 and $70,000 until August. While Hayes offers hope for Bitcoin recovery, some analysts like Scott Melker remain cautious, warning of potential further price drops due to broken support levels. Melker predicts a possible freefall to $52,000 and anticipates a more significant correction of 30% to 40% during this market phase.
Our creator. creates amazing NFT collections!
Support the editors - Bitcoin_Man (ETH) / Bitcoin_Man (TON)
Pi Network (Guide)is a new digital currency developed by Stanford PhDs with over 55 million participants worldwide. To get your Pi, follow this link https://minepi.com/Tsybko and use my username (Tsybko) as the invite code.
Binance: Use this link to sign up and get $100 free and 10% off your first months Binance Futures fees (Terms and Conditions).
Bitget: Use this link Use the Rewards Center and win up to 5027 USDT!(Review)
Bybit: Use this link (all possible discounts on commissions and bonuses up to $30,030 included) If you register through the application, then at the time of registration simply enter in the reference: WB8XZ4 - (manual)
