Bitcoin entered a period of relative stability in recent times as it moved between 81,000 and 89,000 dollars during the past sessions, and this stability gave many traders a sense of reassurance, as the possibility of a sharp decline below the level of 80,000 dollars has become significantly less, and the sales pressure began to decline, while buyers began to enter the market gradually, which makes the market appear in a stage My price recovery.
Although the sales pressure began to decline, there is always a risk of a sudden decrease below the level of $ 80,000 at any moment, however, Arthur Hayes, former CEO of the Bitmex platform and the well -known investor in the world of digital currencies with the participation of his bold expectations that Bitcoin will reach $ 110,000 before testing the price of $ 76,500.
Arthur Hayes expectations to reach $ 110,000 before 76,500 dollars
At the present time, the Bitcoin price is located near 75,000 dollars and not near 110,000 dollars, but Arthur Hayes believes that Bitcoin will reach this large number before re -testing the lower level, and reaching $ 110,000 means that Bitcoin will achieve a new record as the highest price reached at the present time is $ 108,786 which was achieved last January.
At the same time, concerns about a large price correction still exist, but since 76,500 dollars fall under the lowest level this month, there is a possibility to test this price again before the market witnesses another rise.
In a tweet to him via the “X” platform, “Hayes” stated: “I bet that the price of Bitcoin will reach 110,000 dollars before re -testing 76.5 thousand dollars”, adding that the transformations in the market and monetary policies are likely to pay the Bitcoin price to the top instead of heading down.
Transformations in monetary policies and their impact on Bitcoin
Hayes focuses on his expectations on the changes that may occur in monetary policies by the American Federal Reserve that began to move from the policy of quantum tightening (QT) to the policy of quantum facilitation (QE), especially in the government bond markets, and although the federal reserve has been applying the policy of quantum tightening since June 2022, there are now discussions about the possibility of slowing down or stopping the reduction of its public budget, and some Analysts expect the federal to turn towards an approach similar to quantitative facilitation in the near future.
This change in politics may contribute to pumping more liquidity into the financial system, which will push the assets like Bitcoin to a greater rise, and that Hayes ignore the concerns related to inflation, indicating that the Federal Reserve Chairman sees him just a transient inflation, and at the time the report was written in the Bitcoin price trading at 86,600 dollars after he reached the highest level in the last 24 hours 88,713 dollars.
