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Arthur Hayes: Bitcoin (BTC) May Drop to $40K Before Historic Rally Begins
Bitcoin currently trades near $62,000, confronting headwinds from various market forces. Arthur Hayes, co-founder of BitMEX, has presented a near-term bearish outlook while maintaining conviction in his longer-term bullish thesis. During a June 12 interview, Hayes projected Bitcoin could find a bottom around $40,000 within the coming half-year period. This represents approximately a 35% decline from present valuation levels. To protect against this scenario, he has established put spread positions. However, Hayes emphasized that his core portfolio remains substantially positioned long. He continues to support a ... (full story)
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From @financialjuice|2 hr 40 min ago|1 commentBitcoin < $60,000
