Arthur Hayes Flips to Bullish on Bitcoin, Forecasts New High of $70K This Year After Ditching Puts
• Arthur Hayes previously short-term bearish on Bitcoin, bought put options at $35K strike price • No longer bearish, now expects Bitcoin to hit new all-time high of $70K by end of 2022 • Put options were a "cheeky short position" based on potential banking crisis • Does see possibility of banking crisis due to commercial real estate exposure • At time of writing, Bitcoin worth $48,212, slight decrease over last 24 hours