Arthur Hayes, co-founder of the cryptocurrency exchange BitMEX, has once again shared his thoughts on Bitcoin's future. He expects a short-term dip to $90,000, but remains optimistic in the long run.
Arthur Hayes' Bitcoin Forecast
Hayes expressed his confidence that Bitcoin could temporarily drop to the $90,000 to $95,000 range if President Trump's proposed spending bill is signed into law. He noted that this could put pressure on the price of the cryptocurrency.
Details of Financial Legislation
The bill, which passed Congress on July 3 with a narrow 218-214 vote, is projected to significantly increase the national debt by approximately $3.3 trillion over the next decade. If enacted, it could lead to greater borrowing by the U.S. Treasury.
Long-Term Optimism for Bitcoin
Despite the potential for a short-term dip, Hayes remains optimistic about Bitcoin's long-term prospects. He believes that if the market can absorb the new bond issuance, Bitcoin may stabilize above $100,000. Earlier, he forecasted Bitcoin could reach $250,000 by the end of 2025.
In conclusion, Arthur Hayes predicts short-term fluctuations for Bitcoin due to government decisions, yet his long-term price forecasts remain positive.
