Arthur Hayes Announces New Bottom Forecast For Bitcoin (BTC)!

Arthur Hayes, co-founder of BitMEX, on his official Twitter account, of bitcoin With a GIF image mocking the decline in its price since the past few days, he hinted that the price of Bitcoin could drop to the level of $ 10,000.

Arthur Hayes Claims $10,000 For Bitcoin Price

Hayes said in his tweet:

“Are you all ready for this?

$BTC $10,000, my cash is ready!”

Y’all ready for this?$BTC 10k my fiat is ready!!! pic.twitter.com/FVsooDJhVT

— Arthur Hayes (@CryptoHayes) November 16, 2022

Hayes’ tweet followed the news of FTX’s collapse, which further affected a number of crypto firms in the industry.

Last week, the former BitMEX CEO announced on Twitter that he had purchased some Bitcoin put options with an expiry date of March 2023 and an exercise price of $15,000. The tweet came as BTC fell as low as $19,244 on the Bitstamp exchange as a result of the FTX crash.

Not long ago, Hayes also stated that he is quite bullish on cryptocurrencies for 2023. However, he believes digital assets will drop to new lows first, causing market panic before hitting new highs.

According to Hayes, the absence of a central bank or other institution that can stop the bloodshed is a huge advantage for the industry as it will enable the crypto markets to effectively reset and eventually recover.

Comparing the recent FTX debacle to the stock market crash of 2008, Arthur Hayes also said:

“FTX was not the first high-profile exchange to go bankrupt, and it won’t be the last. But while all this was going on, blocks on Bitcoin, Ethereum, and all other blockchains continued to be produced and verified.

Decentralized money and finance has and will continue to survive and thrive in the face of the failures of centralized institutions.”

*Not investment advice.