IS BITCOIN DROPPING BELOW $50K OVER THE WEEKEND?
- Arthur Hayes, co-founder of BitMEX, predicted that Bitcoin could drop another 12% and fall below $50,000 this weekend.
- In a tweet, Hayes shared his bearish outlook, stating:
“$BTC is heavy, I’m gunning for sub $50k this weekend. I took a cheeky short. Pray for my soul.”
Key Details:
- Bitcoin recently dipped below $56,000, and overall market sentiment has shifted into “extreme fear.”
- Fears of a slowing U.S. economy and disappointing jobs data have added pressure on the crypto market.
- Bitfinex analysts warned that while a Federal Reserve interest rate cut could benefit Bitcoin long-term, it may cause short-term price drops.
- Analysts suggest Bitcoin could fall to $46,000, a level not seen since February. Other predictions, like that of 10x Research, see the low $40,000s as a potential entry point for a bull market.
- Some analysts, such as Moustache, believe Bitcoin could find support around $57,000, based on historical patterns.
TELL me your thoughts! are you bullish or bearish?
