Arthur Hayes predicts a possible decline in Bitcoin and Ethereum prices given the current economic conditions.
Price Decline of Cryptocurrencies
Arthur Hayes, co-founder of BitMEX, stated that Bitcoin could fall to $100,000 and Ethereum to $3,000. The reasons include rising tariffs, stagnant credit markets, and slow job growth, creating an unfavorable backdrop for cryptocurrencies.
Hayes' Asset Sales
To lock in profits, Hayes sold over $13 million worth of cryptocurrency. After these transactions, his wallet contained $28.3 million in assets, with $22.95 million in USDC stablecoins.
Experts' Opinions on Crypto Market Future
Despite Hayes' pessimism, other analysts express more optimistic predictions. Bloomberg expert Eric Balchunas noted that after BlackRock filed for a Bitcoin ETF, the market became more stable. Blockware Solutions analyst Mitchell Askew believes that the era of sharp price swings in Bitcoin is behind us. Furthermore, CryptoQuant analysts reported that whales are actively accumulating Bitcoin reserves.
In an unstable economy, experts' opinions on the future of cryptocurrencies remain divided, highlighting significant risks and opportunities in the current market.
