Hayes, Who Warned Bitcoin at $50K, Closes Short Position

Arthur Hayes, who recently warned that Bitcoin could fall below $50K, has announced that he has closed his short position.

Arthur Hayes wrote that he has closed his short position on Bitcoin. Stating that he made a 3 percent profit on his position, Hayes stated that Bitcoin could gain momentum on expectations of increased dollar liquidity.

Hayes also took note of U.S. Treasury Secretary Janet Yellen’s statement yesterday that things are going well in the economy and a soft landing is in order. “It’s truly remarkable to be able to significantly reduce inflation while maintaining strong growth,” Yellen said. This is what most people call a soft landing,” he said.

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