Former BitMEX CEO Arthur Hayes, who recently announced that he expects a bull in Bitcoin, made striking statements about BTC in a YouTube program he attended.
In these statements, he said that Bitcoin will not see new highs this year, but he does not think that it will rise from 2024.
At the same time, Arthur Hayes, who does not think that BTC will rise to $ 70,000 this year, made new statements about Bitcoin and the bull market in today's blog post.
Noting that patience is required in the financial markets, Hayes said, "Although Bitcoin and gold rose after this year's US banking crisis, after their initial rise, these solid monetary assets have given back some of their gains. Regarding Bitcoin, volatility and trading volumes in spot and derivatives have dropped. " said.
Some investors ask "if we're in the middle of a real banking crisis, why doesn't Bitcoin continue to rise?" Hayes, who stated that he frequently asked the question, said that his answer to this question was clear:
"Patience. Nothing goes up or down in a straight line. Remember Kaiseki's saying. The destination is known, but the path is not."
Hayes answered the bull market questions about Bitcoin that he believes the real bull will start in the third or fourth quarter of this year.
“I believe the real Bitcoin bull market will start in the late third and early fourth quarter of this year. After the TGA is renewed, I will use this quiet time to slowly increase my allocation to Bitcoin.
In this context, I expect Bitcoin to stand firm at these levels. I don't believe we will retest $20,000 or come close to $20,000. As money slowly flows into global risk asset markets, a strong support base will form in BTC."
Finally, Hayes, who thinks that inflation will hit the bottom in the summer months but will slowly start to rise again after the summer months, said, "This means that the FED can stop the rate hikes in June, but can rekindle the fire by raising the rates at the July meeting."
*Not investment advice.