Posted 1/24/2024, 9:01:02 PM
Arthur Hayes Forecasts Bitcoin Could Plunge to $30K, Citing Market Forces and Regulatory Moves
- Arthur Hayes predicts Bitcoin could fall to $30,000 - $35,000 based on market dynamics and impending decisions by financial authorities
- Hayes believes traders have misinterpreted speeches by Yellen and Powell, leading to unwarranted optimism
- Hayes links Bitcoin's performance to broader financial trends, saying it is a more accurate indicator than traditional metrics
- Hayes predicts the end of the Bank Term Funding Program in March could cause a "mini-financial crisis"
- While bearish short-term, Hayes remains bullish long-term, planning to "buy the dip" in altcoins like Solana and Bonk