Arthur Hayes predicts that the price of bitcoin will reach $70,000 in 2024

by Max Nevskyi

2 years ago

Arthur Hayes, co-founder of the BitMEX exchange and a cryptocurrency expert, predicts the first cryptocurrency's price to reach a historical high by 2024.

I am definitely bullish by the end of the year. I think Bitcoin will reach a record high of $70,000.said Hayes.

In January of this year, crypto expert Arthur Hayes expressed a pessimistic view on the price of the first cryptocurrency. He suggested that the price of Bitcoin would drop below $40,000, while acquiring "a few" put options with a strike price of $35,000.

[…] I assessed the market and thought it wasn't doing what I wanted, and the option premiums were killing me, so I'll just close those positions. And Bitcoin is on its way up again.told Hayes.

In addition, one of the founders of the BitMEX exchange noted the possibility of a new banking crisis, caused by deteriorating conditions in the commercial real estate sector, which is the subject of lending for many banks.

He also stated that central banks would "turn on the printing press" to provide markets with huge amounts of liquidity and save the economy in the event of a new banking crisis.

Rewards

More rewards

Discover enhanced rewards on our social media.

Other news

Tesla to Enter Settlement Negotiations Over Racial Harassment Allegations

Tesla has agreed to participate in private mediation with the US Equal Employment Opportunity Commission regarding allegations of racial harassment at its California factory.

Andrew Smith25 minutes ago

MARA Holdings Maintains Strong Bitcoin Treasury Amidst Competition

MARA Holdings maintains one of the largest Bitcoin treasuries, holding over 55,000 BTC, positioning itself as a strong competitor in the Bitcoin mining industry.

Jacob Williams34 minutes ago

ApeCoin APE Shows Mild Correction Amid Low Volume

ApeCoin APE is trading down 1.63% in the last 24 hours, currently priced at 0.02072. Despite this mild correction, the project maintains a steady community of approximately 1859K holders.

Zainab Kamara43 minutes ago

MicroStrategy Acquires Largest Amount of Bitcoin in Half a Year.

MicroStrategy has announced a significant acquisition of Bitcoin, purchasing 13,627 BTC for approximately 125 billion, marking its largest purchase in nearly six months.