Arthur Hayes predicted the price of Bitcoin to rise to $70,000 in 2024

  • Arthur Hayes believes that the price of Bitcoin will reach an all-time high in 2024.
  • Previously, a crypto expert predicted that the rate of the first cryptocurrency would fall below $40,000.

Co-founder of the BitMEX exchange and crypto expert Arthur Hayes said that the price of the first cryptocurrency will reach a historical maximum in 2024.

“I’m definitely bullish about the end of the year. I think Bitcoin will reach a record high of $70,000,” Hayes said.

Let us remember that back in January, the crypto expert adhered to a negative scenario regarding the price of the first cryptocurrency. He then said that Bitcoin would fall below $40,000 and bought “several” put options with a strike price of $35,000.

“(…) I assessed the market and thought it wasn’t doing what I wanted and option commissions were killing me, I’ll just close these positions. And Bitcoin is on the way up again,” Hayes said.

In addition, the co-founder of the BitMEX exchange mentioned the possibility of another banking crisis caused by the deterioration of the situation in the commercial real estate sector, for which many banks issue loans.

He also added that central banks will “turn on the printing press” to create huge amounts of liquidity in the markets to save the economy in the event of another banking collapse.


Bitcoin
BTC
Price:
$50,054

3.8%
24h Volume:
$15.7b

Recall that in November 2023, Arthur Hayes predicted a jump in the price of Bitcoin to $1 million.

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Barack
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