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BitMEX co-founder Arthur Hayes in a brand new Bitcoin value prediction on Monday mentioned “I think we break $40k”. The change in sentiment comes following a long-term bearish prediction of $5000 for Ethereum (ETH) and $200 for Solana (SOL), in addition to in response to the upcoming US Treasury quarterly refunding announcement.

Arthur Hayes’ Bitcoin Price Prediction

Billionaire Arthur Hayes, co-founder of crypto trade BitMEX shares his bearish sentiment on Bitcoin in a publish on January 22.

Hayes mentioned “BTC looks mad heavy. I think we break $40k. I went long some 29Mar $35k strike puts.” He added that BTC value will proceed to dump till the U.S. Treasury quarterly refunding announcement on January 31. US Secretary of the Treasury Janet Yellen can deliver BTC value additional down along with her bearish remarks, however the group is awaiting a paradigm shift in momentum.

In a earlier publish at this time, Arthur Hayes mentioned SPX and BTC each “stopped moving up together post US BTC ETF”. He alerts liquidity troubles within the markets as merchants await key macro bulletins.

BTC price prolonged decline after Arthur Hayes’s publish, falling to $40,027. The value is presently buying and selling at $40,822. The 24-hour high and low are $40,364 and $41,855, respectively. Furthermore, the buying and selling quantity has elevated by 72% within the final 24 hours, indicating curiosity amongst merchants.

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Varinder has 10 years of expertise within the Fintech sector, with over 5 years devoted to blockchain, crypto, and Web3 developments. Being a expertise fanatic and analytical thinker, he has shared his data of disruptive applied sciences in over 5000+ information, articles, and papers. With CoinGape Media, Varinder believes within the big potential of those modern future applied sciences. He is presently masking all the newest updates and developments within the crypto trade.

The introduced 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 accountability on your private monetary loss.