Bitcoin has fallen below the $80,000 mark, causing investor concerns. BitMEX co-founder Arthur Hayes anticipates further declines in the coming days.
Arthur Hayes on New Market Waves
In his X post, Arthur Hayes noted that the current wave of Bitcoin decline would be accompanied by further falls. Hayes emphasized that even though he was tempted to increase his investments, further analysis indicated the possibility of a new drop. He expects price consolidation after this wave.
Massive Market Liquidations
According to CoinMarketCap, Bitcoin lost about 10% of its value in the last 24 hours. Since the start of the current fluctuations, more than 227,000 traders have been liquidated, with the total liquidation value reaching $932 million. The current price of the cryptocurrency is $79,800.
Long-term Bitcoin Prospects by Hayes
Despite the current declines, Hayes remains optimistic about Bitcoin's long-term prospects. He believes that the Federal Reserve's monetary easing could push the cryptocurrency's value to $250,000 by the end of the year.
The current situation in the cryptocurrency market poses significant risks to investors. However, the long-term prospects of Bitcoin remain a focal point in expert analyses.
