CDS Crypto News Bitcoin’s Potential Recovery: Arthur Hayes Foresees a Gradual Rise
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Bitcoin’s Potential Recovery: Arthur Hayes Foresees a Gradual Rise

BTC billionaire Arthur Hayes contends that Bitcoin has reached its bottom. Now, he forecasts that the markets will experience

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Bitcoin's Potential Recovery: Arthur Hayes Foresees a Gradual Rise

Crypto News– When Bitcoin’s price takes a nosedive, traders often seek shelter and await signals indicating that the market has hit rock bottom and is poised to reverse course.

Bitcoin’s Potential Recovery: Arthur Hayes Foresees a Gradual Rise

In this regard, Bitcoin tycoon and former BitMEX CEO Arthur Hayes offers a dose of cautious optimism. In a recent blog post, he remarked, While I don’t anticipate an immediate realization of the inflationary implications of the recent U.S. monetary announcements in the crypto realm, I do foresee prices stabilizing, trading within a range, and gradually ascending.

Essentially, Hayes believes that the worst may have passed—for the time being.

Earlier this week, Bitcoin plummeted below $57,000 in anticipation of the Federal Reserve’s meeting. However, when Fed Chair Jerome Powell confirmed that interest rates would remain unchanged—a move widely anticipated by investors—prices traded sideways.

At the time of writing, Bitcoin has surged past the $61,000 mark for the first time since late April, registering a 4.6% gain over the past 24 hours, as per CoinGecko data.

While Hayes suggests that Bitcoin may have hit its bottom, he isn’t planning to increase his BTC holdings.

I won’t be closely monitoring Bitcoin while I could be exploring other opportunities, he mentioned, further stating, The recent significant downturn presents an ideal chance to convert my US dollars into synthetic dollars and invest in high volatility altcoins. I’m allocating funds to Solana and meme coins for momentum trading.

He noted that positive developments at the U.S. Treasury, Federal Reserve, and the recent bailout of Republic First Bank signal an impending increase in dollar liquidity. Just a month ago, prior to the latest Bitcoin halving, Hayes had a pessimistic outlook on prices due to declining dollar liquidity.

Among the key macroeconomic indicators he underscored was the Federal Reserve’s intention to borrow an additional $41 billion between now and the end of June—$41 billion more than what was previously announced in January.

That’s not good news for Treasury holders, Hayes elaborated, noting that this will inflate the supply of Treasury bonds, potentially leading to an uptick in long-term bond rates.

In response to this, Yellen will likely implement some form of yield curve control, he stated in the blog post, and that’s when Bitcoin will truly begin its ascent towards $1 million.

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