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Arthur Hayes Predicts Bitcoin May Drop to Pre-Election Levels

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by Giorgi Kostiuk

4 hours ago

Bitcoin continues to decline, reaching its lowest point in a month. Meanwhile, analysts are discussing possible scenarios for its future movement.

Arthur Hayes' Prediction

Arthur Hayes, a well-known analyst in the cryptocurrency industry, believes that Bitcoin could drop to pre-election levels in the near future.

Historical Analogies by PlanB

PlanB, creator of the Stock-to-Flow model, highlighted past price drops of over 30% during the 2016-2017 bull market before reaching new highs.

These corrections are part of Bitcoin's regular price growth cycles.PlanB

Institutional Investments and Their Impact

Arkham reported that BlackRock moved $150 million worth of Bitcoin to Coinbase Prime, suggesting institutional investors might be taking profits.

Bitcoin remains a focal point of attention, with analysts pointing to various factors affecting its price, from historical precedents to institutional investments.

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