There will be no shortage of Bitcoin bulls in 2024. Earlier this month, the price reached its highest level since the bear market began in 2022. The price has since fallen slightly and there are also several signals that this decline will continue. The well-known Bitcoin bull Arthur Hayes also assumes that the price can fall even further.
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Ex-CEO expects Bitcoin bull market
Arthur Hayes was previously CEO of crypto exchange BitMEX, one of the largest trading platforms in the industry. He regularly has a very informed opinion about what's going on. He himself expects Bitcoin (BTC) will experience the largest bull market in human history. DThis would happen because central banks will not be able to stop printing money. This is why he compared fiat currency to toilet paper last summer.
He regularly makes pretty strong statements, but he has also been right about a lot of things in the past. For example, he sounded the alarm shortly before the biggest bear market crash of 2022. This was linked to the central banks raising key interest rates, which he was obviously right about.
But Hayes is not a “permabull,” as they say. Like this warned him earlier this month before a crash of 40%. But shortly afterwards, the Bitcoin price rose to its highest level since 2022. However, the price has since fallen back below the level when he announced his warning.
Arthur Hayes expects Bitcoin crash
It appears that he has not changed his mind, as evidenced by his report Profile picture on social media platform. “I am an entrepreneur, not a priest. 100x,” it says.
On Monday morning he wrote further: In theory, he makes a profit if the price falls.
“I think we will (drop below $40,000). I think we will decline until the US Treasury announces on January 31 that it will refinance the national debt,” Hayes said.
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