Arthur Hayes, co-founder of BitMEX, expects the Bitcoin price to move sideways or even fall further in the short term. He thinks that an increase is only possible later.
Although he previously predicted that Bitcoin’s bull market would begin in September, he now admits that prediction was wrong.
The BTC price could rise again at the end of September
Still, Hayes remains optimistic and sees his bearish stance as temporary. In a recent update, he writes: “My forecast has changed, but this does not affect my long-term view. I am still very bullish,” he stated in his most recent blog post.
Hayes has postponed his bullish forecasts for a few weeks, pending emergency measures from the Federal Reserve and the U.S. Treasury Department to inject liquidity into the market. He expects that liquidity will likely come from the Treasury General Account and possibly renewed quantitative easing to ensure stability in the government bond market.
“I expect the intervention to start in late September,” he said. “Until then, Bitcoin will at best continue to trade around current levels and at worst slowly decline towards $50,000.”
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Source: https://newsbit.nl/arthur-hayes-voorspelt-daling-van-bitcoin-koers-naar-50-000/
