Arthur Hayes, CEO of BitMEX, says the $ 20,000 target by the end of the target remains standing, but the other possibility is a drop to $ 3,000.
The price of Bitcoin (BTC) is still on track to reach its historic $ 20,000 high in 2020, according to Arthur Hayes, BitMEX CEO.
In New ‘Crypto Trader Digest‘, Published by the exchange on April 9, Hayes says the $ 20,000 target by the end of the year continues, despite the historic fall in March that apparently broke all bullish forecasts.
$ 3,000 is also a possibility
Last month, Hayes said the BTC would not revisit the $ 3,000 and reiterated that the main cryptocurrency could rise to $ 20,000 after reaching the $ 10,000 mark.
The timing of your post couldn’t be worse, since it was published just before the BTC price dropped 48% in 24 hours. It fell to the $ 3,800 mark, which coincided with BitMEX going offline due to ‘an aggressive DDoS attack’.
Now, Hayes does not rule out that BTC could fall further if US stocks are defeated again.
“The price can test $ 3,000 again, absolutely. While the SPX rolls and tests 2,000. ”
Mike Novogratz speaks in the same tone
Mike Novogratz, CEO of Galaxy Digital, also expects Bitcoin to rise to the oldest level of all time this year. Otherwise, he would consider abandoning it, since the huge dose of monetary stimulus must be the perfect storm for cryptocurrencies. In his recent interview with CNBC, the Wall Street veteran described it as “an orgy of printing money”.
In his last post, Hayes predicts that the impression of US Federal Reserve dollars could lead to gigantic inflation.
“Remember that all raw materials are priced in dollars, if you print a lot of money to monetize your public debt, the gap in your currency and inflation are rampant. “