Arthur Hayes Predicts Bitcoin Will Briefly Crash to $70,000
The post Arthur Hayes Predicts Bitcoin Will Briefly Crash to $70,000 appeared on BitcoinEthereumNews.com.
Arthur Hayes predicted a dramatic crash in Bitcoin’s value but claimed that it would rebound to a new all-time high by the end of the year. The majority of his arguments were unrelated to today’s DeepSeek-related market turmoil, but he claimed that these events could serve as a catalyst. Arthur Hayes Expects a Mini-Financial Crisis for Bitcoin Arthur Hayes, former CEO of BitMEX, has dramatically changed his short-term predictions for Bitcoin. Earlier this month, he claimed that the price of Bitcoin would peak in mid-March before facing a severe correction. However, today, Hayes updated his prediction to claim that BTC was already on the precipice of this decline. “Reversing the order of my tryptic essay series. I am calling for a $70,000 to $75,000 correction in BTC, a mini financial crisis, and a resumption of money printing that will send us to $250,000 by the end of the year,” Hayes claimed. Hayes later posted an extensive breakdown of this projection on his personal blog. He noted many global economic factors. Hayes’ short-term bearish prediction for Bitcoin is based on the deteriorating global fiat liquidity environment. This is being driven by rising US 10-year Treasury yields, a tightening Federal Reserve, and slowed money printing in major economies like the US, China, and Japan. These factors have increased financial stress. In turn, it’s creating a negative environment for fiat-priced assets, including Bitcoin, which Hayes argues is highly sensitive to global liquidity conditions. “Why do I believe in a 30% correction for Bitcoin? These types of pullbacks occur often throughout the bull market, given how volatile Bitcoin is. More importantly, the market exceeded the March 2024 all-time high right after Trump won re-election in early November 2024. Many others, including myself, have written extensively about how Trumpism heralds an acceleration of money printing…
Filed under: News - @ January 28, 2025 1:25 am