bitcoin's price performance is attracting the attention of market experts. Arthur Hayes, co-founder of BitMex, sounds the alarm on the currency's trajectory.
Hayes recently warned of a possible drop to $70,000, $75,000 in the near future. This prediction comes amid global economic instability and changing market conditions.
A possible mini financial crisis
According to Hayes, the global financial system could experience a “mini financial crisis.” This event could force bitcoin to evaluate reduced levels of support, even if it is still attractive to investors seeking a safety net from traditional financial tremors.
Hayes said a correction could be needed this fall before the main cryptocurrency rally. Although his tone is cautionary, his long-term view remains primarily positive.
<blockquote class="twitter-tweet”>
Reverse the order of my series of triptych essays.
The ugly one will be published tomorrow morning. I am asking for a correction from $70k to $75k in <a target="_blank" href="https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw”>$btca mini financial crisis and a resumption of money printing that will send us to $250k by the end of the year. pic.twitter.com/wohvbkkxof
– Arthur Hayes (@cryptohayes) <a target="_blank" href="https://twitter.com/CryptoHayes/status/1883682137897099624?ref_src=twsrc%5Etfw”>January 27, 2025
Settlements and market reactions
The market is quite volatile. Recently falling below the $100,000 support level, bitcoin has caused extensive liquidations worth around $854 million.
For some in the market, these selloffs highlight the delicate balance between hope and worry in the bitcoin markets. Corrections are a normal part of market cycles, but the speed and size of sell-offs show that traders are more sensitive right now.
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Divergent views of specialists
Although Hayes anticipates a significant recession, not many analysts agree with his outlook. Georgii Verbitskii, the founder of Tymio, perceives the current decline as a logical consequence of the extended uptrend.
Verbitskii suggests that the market may experience a more moderate downturn, with bitcoin stabilizing at around $87,000 instead of falling to $75,000.
The future future of bitcoin
Despite the warning, Hayes remains positive about the future of bitcoin. He believes bitcoin could reach $250,000 by the end of 2025 as central banks around the world ease monetary policies. This view reflects a common belief among crypto fans that digital assets will prosper as the global economy changes.
According to Coingecko, bitcoin was <a target="_blank" href="https://www.coingecko.com/en/coins/bitcoin” target=”_blank”>listing at $99,242showing a drop of 5.1% in the last 24 hours and 7.5% over the past week. The asset's path remains unpredictable, swinging between calm and chaos. Whether Hayes' prediction of a drop to $75,000 happens or not, bitcoin continues to captivate investors everywhere.
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