Former BitMEX CEO Arthur Hayes has opined that the Bitcoin price has already reached the bottom of the current cycle.
The former BitMEX CEO, Arthur Hayes, has insisted that Bitcoin prices have reached the bottom of the current cycle.
Bitcoin price fell to $25,000 during the collapse of the Terra blockchain project in early May.
The data for Hayes to confirm that includes the adjustment between Bitcoin and Nasdaq 100, the price of Bitcoin at a price close to the peak of the previous cycle, and media crowding over “greedy people” who have been lost by cryptocurrencies.
However, Hayes has warned that Bitcoin has hit the bottom which does not mean it will immediately go up again to $70,000.
Arthur Hayes said that Bitcoin holders must be patient and “focus on what matters.”
The former head of BitMEX predicts that Bitcoin prices could eventually reach $1 million by 2030.
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