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Headline : Arthur Hayes foresees market bottom, predicts gradual uptrend

Read more from the original article on here at crypto.news.





Tags : #arthur #hayes #foresees #market #bottom #predicts #gradual #uptrend


No. of Paragraph 17

Bitcoin billionaire and former BitMEX CEO Arthur Hayes shared a mix of cautious optimism and strategic moves for Bitcoin following a weekly decline.

Hayes’s insights emerge as weekly red candles appear on multiple cryptocurrency charts. These candles reflect the market’s downturn earlier this week, which he believes could be the bottom.

“While I don’t expect crypto to fully realize the recent U.S. monetary announcements’ inflationary nature immediately, I expect prices to bottom, chop, and begin a slow grind higher,” Hayes stated in a recent blog post. This perspective comes at a time when investors and market spectators are desperate for a sign of stability.

Bitcoin recently took a significant hit, dropping below $57,000 just before a crucial Federal Reserve meeting. However, following Fed Chair Jerome Powell’s announcement that interest rates would remain unchanged — a widely anticipated decision — Bitcoin’s price began to stabilize. It has since climbed to $61,870, marking a 4.65% increase in the past 24 hours via CoinMarketCap, following news of U.S. jobs data.

Read more from the original article on here at crypto.news.


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