Bitmex co-founder Arthur Hayes' perspective on Bitcoin changes. He is now estimated to be worth less than $50,000. This contrasted with his view from last month.
BitMEX co-founder Arthur Hayes has changed his outlook on Bitcoin and is now predicting a drop below $50,000.
Hayes tweeted: “BTC is huge, I'm gunning for sub $50k this weekend. I took a cheeky short. Pray for my soul, for I am decayed.
The bearish position contrasts with his optimistic outlook just weeks ago.
On August 13, Hayes predicted a rise in the price of Bitcoin due to anticipated US Treasury liquidity measures. At that point, Hayes said Bitcoin could surpass its all-time high of $73,700, and “the next stop for Bitcoin is $100,000.”
He said the US Treasury plans to inject between $301 billion and $1 trillion into the markets before the end of the year, which would “create an incredible bull market in all kinds of risk assets, including crypto, around election time.”
On average, September has historically been a Tough month for BitcoinShows a -5% normal return and ranks as one of the weakest months of the year. In contrast, October averaged a strong rebound at around +23%.
On Friday, Bitcoin closed at $53,940Its lowest daily close since February 26.
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