Arthur Hayes Sees Bitcoin Bottom In, Predicts 'Range-Bound Price Action' Until August
Portfolio Pulse from Murtuza Merchant
Arthur Hayes, BitMEX co-founder, predicts Bitcoin has hit a local bottom and expects a rally to above $60,000, with range-bound action between $60,000 and $70,000 until August. He attributes this to U.S. financial policies, tax season pressures, Federal Reserve actions, and market reactions to regulatory news. Hayes highlights the impact of changes in the Fed's quantitative tightening program and the recent bank failures on digital asset security and liquidity in the financial system.
May 03, 2024 | 5:10 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Arthur Hayes predicts a rally for Bitcoin to above $60,000 with range-bound price action between $60,000 and $70,000 until August, influenced by U.S. financial policies and market dynamics.
Hayes' prediction is based on his analysis of U.S. financial policies, tax season pressures, Federal Reserve actions, and reactions to regulatory news, which are likely to influence Bitcoin's liquidity and investor sentiment. His track record and the detailed reasoning behind the prediction lend credibility to his forecast, potentially impacting Bitcoin's short-term price movement.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100