Former Bitmex CEO Arthur Hayes Forecasts Steady Bitcoin Prices

In the early hours today, Arthur Hayes, the former CEO of Bitmex, provided a fresh outlook on Bitcoin prices in his analysis piece, projecting that the cryptocurrency will oscillate between 70,000 until August.

He mentioned, "The slow addition of billions of dollars of liquidity each month will dampen negative price movement from here on out."

Referring to the recent dip where Bitcoin prices briefly touched down to $58,600, Hayes remains optimistic about a gradual price increase. 

In terms of international currency dynamics, Hayes touched on the Chinese Yuan (CNY), predicting a shift in its valuation not directly against the U.S. dollar but against more steady stores of value like gold and Bitcoin.

Previously known for his bold long-term forecasts, Hayes had earlier posited that Bitcoin might reach as high as $1 million, driven by increased money printing and banking bailouts. 


https://news.bitcoin.com/former-bitmex-chief-expects-bitcoin-to-trade-within-60k-70k-range-until-august/