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Analysis

Arthur Hayes: “BTC has bottomed... Expect a slow recovery through August”

According to Cointelegraph, Arthur Hayes, co-founder of global cryptocurrency exchange BitMEX, said, “I think bitcoin has bottomed with the recent decline. “I think Bitcoin has bottomed out from the recent decline, and I think we're going to see a gradual recovery through August, with the price...

Arthur Hayes: “BTC has bottomed... Expect a slow recovery through August”

According to Cointelegraph, Arthur Hayes, co-founder of global cryptocurrency exchange BitMEX, said, “I think bitcoin has bottomed with the recent decline. “I think Bitcoin has bottomed out from the recent decline, and I think we're going to see a gradual recovery through August, with the price hovering in the $60,000 to $70,000 range. “We believe that the US tax season, concerns about the Fed's actions, the Bitcoin halving ‘sell on the news’ selloff, and the slowdown in US Bitcoin spot ETF AUM growth have provided a much-needed cleanse for the market. With the Fed's QE tapering and Treasury bond issuance plans, dollar liquidity will increase, which should help the crypto market start to recover. As billions of dollars of liquidity are slowly added each month, the negative price action should be mitigated. Personally, I will continue to buy Bitcoin, Ethereum (ETH), and other duds like Solana (SOL), Dogecoin (WIF), and Dogecoin (DOGE).”

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