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

Mixin Network Announces Compensation Plan for Hack Victims

Mixin Network has initiated a debt registration and repayment process for users affected by the September 2023 hack, offering compensation in stablecoins and tokenized claims.

David Robinson7 minutes ago

Mixin Hacker Wallet Transfers $385 Million to Tornado Cash

A wallet linked to the 2023 Mixin hack has transferred $385 million to a new wallet, which then sent the funds to Tornado Cash.

Andrew Smith7 minutes ago

Goldman Sachs Invests Heavily in Solana Spot ETFs

Goldman Sachs has made substantial investments in Solana Spot ETFs, totaling approximately $108 million, indicating a growing interest in altcoins and a shift towards broader crypto adoption by traditional financial institutions.

Jacob Williamsan hour ago

Connecticut Man Accused of Defrauding Crypto Investors

Elmin Redzepagic, a 24-year-old from Connecticut, is accused of defrauding crypto investors out of nearly a million dollars, which he allegedly gambled online. He faces multiple charges including wire fraud and money laundering.