All articles tagged with #arthur hayes
Arthur Hayes warns that macroeconomic challenges like tariffs, sluggish credit, and weak job growth could cause Bitcoin to retrace to $100,000 and Ether to $3,000, amid recent profit-taking and market volatility, though some analysts believe the market has stabilized since earlier sharp declines.
Arthur Hayes, co-founder of BitMEX, predicts that Bitcoin may face selling pressure before and after the mining-reward halving on April 20 due to the well-entrenched bullish narrative. He also anticipates U.S. tax payments on April 15 to drain dollar liquidity from the market, leading to risk aversion and a potential fire sale of crypto assets. Hayes advises abstaining from trading until May and expects a bullish tailwind for risk assets after Treasury Secretary Janet Yellen runs down the Treasury General Account post-May 1.
Arthur Hayes, a prominent crypto trader, forecasts a 30% short-term decline in Bitcoin's price, attributing it to the potential non-renewal of the Bank Term Funding Program (BTFP) and the correlation between Bitcoin's peak and the US treasury yield. He expects the price to decrease until the BTFP decision is disclosed, with a subsequent reversal in the trend post-announcement. Hayes also provides optimistic long-term projections, anticipating Bitcoin to reach $70,000 by the end of 2024 and a range from $750,000 to $1 million by 2026.
Former BitMEX CEO Arthur Hayes predicts a 30% correction for Bitcoin, expecting it to drop to $33,600 and form support between $30,000 and $35,000. He plans to invest in Solana and WIF once Bitcoin hits this bottom, and believes that the cessation of the Bank Term Funding Program (BTFP) could cause a mini-financial crisis, leading to a rate cut, tapering of Quantitative tightening, and a resumption of money printing via quantitative easing (QE). Hayes dismisses the argument that Grayscale’s GBTC outflows were responsible for Bitcoin’s recent decline, citing the inflows into newly listed Spot Bitcoin ETFs.
BitMEX co-founder Arthur Hayes predicts a 30% correction for Bitcoin from its 2024 high, expecting it to drop to the $30,000 to $35,000 support zone. He plans to purchase 29 March 2024 $35,000 strike puts and invest in altcoins Solana and Dogwifhat when Bitcoin falls below $35,000. Dogwifhat, a meme asset on the Ethereum competitor, and Solana have seen price increases, while Bitcoin is currently trading at $40,008 with a marginal increase over the last day.
Crypto billionaire Arthur Hayes predicts Bitcoin could drop to $30,000-$35,000 in 2024 due to geopolitical factors and misinterpretation of US monetary policy, criticizing US Treasury Secretary Janet Yellen and Federal Reserve Chairperson Jerome Powell. He plans to buy altcoins once Bitcoin hits bottom and links Bitcoin's performance to broader financial trends, emphasizing its role as a hedge against inflation. Meanwhile, CEO Stefan Rust remains bullish on Bitcoin's long-term growth, citing scarcity and the upcoming halving as driving factors.
Former BitMEX CEO Arthur Hayes argues that Binance and its founder Changpeng "CZ" Zhao have been treated unfairly in the US due to their threat to the traditional global financial system. Hayes points out the discrepancy in penalties between Binance and large traditional financial institutions, highlighting the arbitrary nature of punishment. He believes that the treatment of Binance and CZ reflects resistance against decentralization and the blockchain revolution, which challenge state power. Hayes himself has experienced state prosecution and argues that the intermediaries of the blockchain revolution are not run by the established financial and political class.
Bitcoin and ether prices surge as former BitMex CEO Arthur Hayes predicts the "balkanization of finance" and the collapse of the Western banking system. Hayes believes that traditional banking is broken and that finance will never be the same. Meanwhile, the Ethereum network's Shanghai upgrade is expected to have a minimal impact on the price of ether, with most staked ether being held at a loss. The futures market is pricing in modest gains for ether on contracts that expire at the end of June, and new inflation data is scheduled to be released on April 12.