Arthur Hayes predicts that Bitcoin will fall below the $40,000 mark
BitMEX co-founder Arthur Hayes expressed a pessimistic view on the future price trend of Bitcoin (BTC) in his social media comments. According to the Bitcoin price chart he shared, Hayes said that Bitcoin looks "very heavy" and believes its price will fall below the $40,000 mark. As a result, he has started shorting and purchased put options expiring on March 29 with an exercise price of $35,000. Hayes further speculated that the decline in Bitcoin might continue until January 31 when the U.S. Treasury Department announces its quarterly refinancing.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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