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Bitcoin ready to take off! Arthur Hayes's wild prediction

Fri 03 May 2024 ▪ 3 min of reading ▪ by Eddy S.
Regulation Crypto

Bitcoin has experienced a correction in recent days. However, far from being a negative sign, this salutary purge is merely the prelude to a new stratospheric bullish phase! According to seasoned analysts, the real rise hasn’t even started yet. Fasten your seatbelts; the best is yet to come!

Bitcoin Crypto Arthur Hayes

A Necessary Correction for Market Health

Bitcoin’s 12% pullback this week has raised some concerns among investors. Yet, famed trader Arthur Hayes sees it as an excellent omen. For him, this price deflation was ” much needed ” to sanitize the market.

Indeed, several factors have contributed to this welcome purge. On one hand, the US tax season has encouraged profit-taking. On the other hand, anticipations of the Federal Reserve’s decisions have weighed on market sentiment. Not to mention the traditional wave of selling after the halving!

Hayes considers these healthy withdrawals as the usual throes of a market in good health. A natural cycle that paves the way for the next stage…

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The Anticipated Bitcoin Recovery: Slow but Inexorable

While some feared a major correction, experts agree on a very different outcome for Bitcoin. Far from signaling the end of the bullish trend, the recent dip is simply the indication of a gradual rebound.

According to Hayes, Bitcoin is expected to first stabilize between 60,000 and 70,000 dollars over the coming months. A consolidation plateau before taking off towards new dizzying heights!

Jeff Ross of Vailshire Capital Management is of the same opinion. The CEO cautions against any premature predictions of a bear market. On the contrary, he asserts, ” the real bull market hasn’t even started !”

No doubt is permitted: the winds are changing for Bitcoin and the crypto ecosystem as a whole! While expert forecasts announce the beginning of a super-cycle like never seen before, innovation is already sparking brilliance. From promising Layer-2 projects to amusing memecoins, there is a veritable creative fervor seizing the sector. A positive effervescence that promises to open new horizons for mass adoption!

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Eddy S. avatar
Eddy S.

Le monde évolue et l'adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m'intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l'optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.