BitMEX Founder Reveals His Short-Term Bitcoin Price Predictions
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Answer BitMEX Founder Reveals His Short-Term Bitcoin Price Predictions
Bitcoin is still fluctuating up and down, after it was above the $8000 level before March 12, it fell to less than half ($3800) to rise again and reach the price of $6800 at the time of writing this topic.
BitMEX CEO Arthur Hayes has warned that the price of Bitcoin could fall back to the $3,000 region in the short term.
The founder and CEO of BitMEX believes that the crash in the stock markets will cause a correction in the price of Bitcoin.
Hayes predicted a short-term decline for bitcoin and warned that bitcoin is preparing to retest the $3,000 area in the short term.
in a blog published He told the CEO that while the US stock market sees another pullback, all other asset classes could bounce back down, causing a correction in the price of Bitcoin.
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Arthur Hayes expects the US stock market to decline, after a strong shallow recovery that began in late March, and the decline in stock markets will be the main reason for the retest of Bitcoin to the $ 3000 level in the short term.
Hayes wrote:
You will own bitcoin without restrictions.
Can the price retest $3,000?
With the SPX passing and the 2000 test, expect all asset classes to fall again.
He added:
Despite the violence of the first quarter of asset values, we have nearly 100 years of disequilibrium in order to dissolve the old order.
Arthur Hayes Positive About Bitcoin’s Long-Term Future:
Arthur Hayes has warned about the short-term future of bitcoin, but he still believes that bitcoin will end this year with an all-time high.
Hayes estimates that the bitcoin price will reach $20,000 by the end of this year.
The coronavirus pandemic has not slowed down as countries continue to report more and more positive cases and deaths every day.
Scientists said it could take anywhere from 6 to 18 months to make a vaccine for this virus.
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According to Arthur Hayes’ prediction, it appears that bitcoin is still associated with traditional markets, and if the markets collapse at some point in the future, the price of bitcoin will naturally follow.
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