📣 Exciting news for cryptocurrency enthusiasts! 📈 BitMEX founder Arthur Hayes suggests that Bitcoin may have reached a temporary low point and is poised for a gradual rebound.
- Hayes attributes the recent downturn to various factors such as the US tax season, uncertainty surrounding the Federal Reserve, and a slowdown in the growth of Assets Under Management (AUM) for spot ETFs in the US.
- He views these occurrences as a necessary cleansing of the market. 💪
- While casual investors might opt to wait on the sidelines, serious ones are likely to continue holding and acquiring more Bitcoin, Ether, and high-risk altcoins. 🚀
Hayes anticipates a rally that could propel Bitcoin back above $60,000, with prices expected to fluctuate between $60,000 and $70,000 until August.
Bitcoin demonstrated signs of recovery by surpassing $61,800 on Friday, with experts suggesting it could undergo sideways trading for a period, which is typical after a halving event.
Jeff Ross, CEO of Vailshire Capital Management, remains optimistic, viewing the upcoming weeks and months as an ideal opportunity to accumulate cryptocurrencies.