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Crypto Market News: Arthur Hayes, the chief govt officer of crypto trade BitMEX, mentioned the smaller U.S. regional banks nonetheless face the hazard of collapse, as towards the big banks that maintain treasuries and mortgage backed securities. He mentioned the crypto market will profit from exchanges transferring from one nation to a different, because it might assist individuals get accustomed to Bitcoin. “As long as more and more people get to know the crypto ecosystem, it’s a win for the industry,” he mentioned. Meanwhile, he made a prediction in regards to the timeline for Bitcoin price breaching the all time excessive.
Also Read: Bitcoin Rally Kickstarts Over Debt Ceiling Deal Confirmation News
How Will Bitcoin Do By December 2023
The BitMEX CEO mentioned Bitcoin may not attain the $70,000 mark this yr however the yr 2024 may very well be good for the crypto market. He mentioned the highest cryptocurrency might face one other collapse in 2025 and 2026 attributable to geopolitical tensions. However, regardless of the chance to make earnings, he predicted that most individuals is not going to spend money on Bitcoin. He made the feedback throughout the What Did Bitcoin podcast.
“Next year (2024) is when I think we will cross that barrier ($70,000) and we get the blow off top in 2025 or 2026. And then it’s Armageddon.”
Interestingly, Hayes mentioned he did spend money on PEPE Coin, the sensational memecoin that took the crypto market by storm within the final 2 months.
Also Read: Memecoins Prints Selective Growth as Crypto Market Recovers, Here are the High Fliers
The offered content material could embrace the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty to your private monetary loss.
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