BTC Expected to Dip to $30k – $35k
According to Arthur Hayes, the co-founder and former CEO of BitMEX, Bitcoin is forecasted to correct by 30% from its recent high, potentially dropping into the $30,000 to $35,000 price range. Despite this prediction, Hayes believes that relief measures from the Federal Reserve could stimulate economic growth, making cryptocurrencies crucial hedges against inflation.
Understanding the Fed’s Role
Hayes sees potential relief measures from the Federal Reserve as crucial for stimulating economic growth, maintaining that cryptocurrencies remain essential hedges against inflation, especially with mainstream banks possibly on the verge of collapse.
Altcoin Portfolio Shift
Arthur Hayes confirmed the sale of his positions in Solana (SOL) and BONK, expressing a potential pivot in the face of a downward trend for Solana and planning to accumulate Dogwifhat (WIF) if Bitcoin’s price falls below $35,000.
Hot Take
Arthur Hayes offers insightful perspectives on Bitcoin’s future, emphasizing the potential dip in its price and the importance of the Federal Reserve’s role in stimulating economic growth. He also highlights a shift in his altcoin portfolio, expressing confidence in Dogwifhat (WIF) amid potential market recovery.
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