Arthur Hayes, co-founder of BitMEX, Bitcoin He stated that the BTC price does not show a short-term downward trend because the price has become strong enough to convince him.
Earlier this year, Hayes announced that he had purchased some put options on Bitcoin at a strike price of $35,000 in anticipation of a short-term price correction.
Giving his views in a new interview with Crypto Banter Arthur HayesHe stated that he expects BTC to reach all-time highs by the end of this year and does not expect a significant correction at this time.
While Hayes stated that the peak price of $ 70,000 could be reached by the end of the year, he shared interesting details. While Hayes expresses his opinion that ED will renew the bank term funding program, he expects a stress environment to occur in the banking system.
Bitcoin lost some value in March 2023 as banks began to fail. Maybe a somewhat similar situation may occur this time. I thought it would exceed $40,000, and it did.
We only got down to $38,000, it didn’t really take off. I evaluated the market and thought, well, it’s not really doing what I want and option fees are killing me, I’ll just close these things out. And Bitcoin started to rise again.
NEWS CONTINUES BELOWFrankly, I have been in the market for a long time and I have full faith. That’s why I don’t care much about what happens in the short term.
As Koinfinans.com reported, Hayes also frequently highlights the possibility of a new banking crisis triggered by the commercial real estate sector, to which many banks are exposed through loans.
