In a recent update, Arthur Hayes, co-founder of BitMEX, shared his insights on the future trajectory of Bitcoin in a post on X. He forecasts a potential short-term decline in Bitcoin’s price, projecting it may retreat to the $70,000 to $75,000 range. This observation aligns with the broader economic landscape, where central banks are expected to revisit quantitative easing strategies, thereby increasing market liquidity. Such monetary policy shifts could catalyze a renewed bullish sentiment in the cryptocurrency market. Hayes anticipates that, following this anticipated pullback, Bitcoin might regain momentum and aim for an impressive target of $250,000 by the close of the year. Investors are advised to monitor these developments closely as the interplay between macroeconomic factors and cryptocurrency dynamics continues to evolve.
Source: https://en.coinotag.com/breakingnews/arthur-hayes-predicts-bitcoin-pullback-to-70k-75k-before-soaring-to-250k-in-2023/