CDS Crypto News Bitcoin Price Could Drop to $30K Anytime Due to High Inflation, Former CEO Hayes Says
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Bitcoin Price Could Drop to $30K Anytime Due to High Inflation, Former CEO Hayes Says

The already low Bitcoin price could drop even further.

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Bitcoin Price Could Drop to $30K Anytime Due to High Inflation, Former CEO Hayes Says

Crypto News – According to Arthur Hayes, new global macro-unrest could push Bitcoin to $35,000 or below.

Bitcoin Price Could Drop to $30K Anytime Due to High Inflation, Former CEO Hayes Says

The former CEO of cryptocurrency exchange BitMEX released a pessimistic short-term price prediction for Bitcoin in his most recent blog post, “Yellen or Talkin’?” on January 24. Although there is still a 75% increase in Bitcoin compared to a year ago, this quarter’s downside volatility drivers are all too present. Hayes sees numerous manifestations of this, including the U.S. presidential election, Federal Reserve policies, and the Red Sea battle between the United States and the Houthis and its effects on international shipping.

Expectations for Fed to Cut Interest Rates Still High

As early as March, risky assets, including cryptocurrency, are anticipating a “pivot” from the Fed that will cut interest rates and bring liquidity back into the market. Hayes clarifies that the Fed and Chair Jerome Powell will be eager to prevent a price surge later in the year if higher shipping expenses are incurred.

Due to weather and geopolitics, higher shipping costs could cause a surge in inflation in the third and fourth quarter of this year. As Powell is undoubtedly aware of these issues, he will do everything he can to talk a big game about rate cuts without having to actually cut them,

What might be a mild increase in the rate of inflation due to increased shipping costs could be supercharged by rate cuts and the resumption of QE. The market doesn’t appreciate this fact yet, but Bitcoin does.

Hayes

However, the uncertainty surrounding the BTFP and liquidity, along with geopolitical risk, may indicate that the 20% decline in the price of bitcoin is just the beginning.

A 30% correction from the ETF approval high of $48,000 is $33,600. Therefore, I believe Bitcoin forms support between $30,0000 to $35,000. That is why I purchased on March 29, 2024, $35,000 in strike puts.

Hayes

According to him, buying the dip is currently possible at sub-$35,000 levels.

Bitcoin Price Could Drop to $30K Anytime Due to High Inflation, Former CEO Hayes Says
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lectertodd

Lectertodd is 25 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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