Summary
- Arthur Hayes mentioned that Bitcoin could form a bottom at $70,000.
- Hayes emphasized that central banks might start quantitative easing policies if the US stock market crashes.
- He suggested waiting until the quantitative easing period as an investment strategy for risk avoidance.
As Bitcoin (BTC) continues to struggle to break free from its persistent downward trend, investor concerns are amplifying. Some analysts suggest that Bitcoin will form a bottom at $70,000.
On the 11th, Arthur Hayes, founder of BitMEX, analyzed through X (Twitter), "Bitcoin is likely to bottom out at $70,000. This represents a 36% correction from the all-time high of $110,000, which is common during bull markets."
Hayes further stated, "If the US stock market crashes and traditional finance (TradFi) bows its head, central banks may begin quantitative easing policies," adding, "To avoid risk, just wait until quantitative easing begins before investing."
Meanwhile, as of 10:45 AM today, Bitcoin is trading at $78,653, down 3.47% from the previous day according to CoinMarketCap.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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