Arthur Hayes warns of a Bitcoin price drop after the halving: what will 2024 bring?
Arthur Hayes Predicts Bitcoin Price Drop After 2024 Halving
Arthur Hayes, the founder of the renowned cryptocurrency exchange BitMEX, has made an intriguing prediction regarding the future of Bitcoin after the upcoming halving in 2024. Hayes believes that despite short-term benefits, investors should prepare for a decrease in the cryptocurrency’s value.
Possible Causes of Bitcoin Value Decline
According to Arthur Hayes’s forecasts, the drop in Bitcoin’s value could stem from actions taken by the Federal Reserve of the United States and the Department of the Treasury. Measures taken by them may encourage investors to quickly dispose of digital assets, which in turn will impact the cryptocurrency market.
Concerns About Long-Term Effects of the Halving
Despite the widespread belief in the positive impact of halving on cryptocurrency prices, Hayes expresses concerns about the long-term effects of this phenomenon. In his opinion, the market may be heading towards a bearish trend, which means that investors should exercise caution.
Factors Contributing to Cryptocurrency Price Decrease
Hayes points out several factors that could contribute to the decline in the prices of digital assets, such as the decrease in liquidity of the US dollar, tightening of the money supply by the Federal Reserve, and no movement in the Treasury General Account, the government’s operating account. All these elements can affect the decrease in the value of Bitcoin and other cryptocurrencies.
Pessimistic Forecasts with Room for Change
Despite the pessimistic forecasts regarding the future of Bitcoin, Arthur Hayes emphasizes that no forecast is certain. He also notes that history shows that Bitcoin can surprise and exceed expectations, which may mean that despite concerns, the growth potential still remains.
Current Market Status
According to CoinMarketCap data, Bitcoin is currently trading around $70,737 with a 6.34% increase over the last seven days. The situation in the cryptocurrency market remains dynamic, and expert forecasts may have a significant impact on investment decisions.
