The cryptocurrency market is full of ups and downs, hence some news keeps floating about the market, one such news has been heard recently. Know the whole matter!
Which is right, bank or market?
BitMEX co-founder Arthur Hayes recently made a bold claim regarding the cryptocurrency. He believes that the value of Bitcoin may increase to $ 1 million in the coming time.
He also said that Federal Reserve Chief Jerome Powell says that American banks are performing very well. But NYCB (a bank), slightly disagrees. Whom should we believe?
Arthur Hayes and Bitcoin bull think the cryptocurrency market could be in for a big reprieve. And this may increase the price of Bitcoin significantly. According to him, the government can inject a lot of money into the market. And this could take Bitcoin to great heights.
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Arthur Hayes’s warning to investors: prepare for a potential downside
But Arthur Hayes said one more thing, he also asked to be careful. In January he said that the price of Bitcoin could fall by 20% to 30% by March. He wrote a long post about it and warned people to be prepared for a big drop in Bitcoin prices. Especially people who are new to the world of crypto market.
To put it simply, Arthur Hayes is saying two things. First, Bitcoin could become extremely valuable. Second, it may also be quite cheap for some time. So, if you are investing in Bitcoin, it is time to pay attention in this volatile cryptocurrency market
