BitMex co-founder says Bitcoin will dump just before & after Bitcoin halving
Arthur Hayes shared his opinion of Bitcoin’s upcoming hyped event “Bitcoin halving” and called it an opportunity to invest money in Bitcoin.
Arthur Hayes is a co-founder of BitMEX, a cryptocurrency derivatives trading platform. He’s known for his bold predictions and outspoken personality in the crypto community.
On 9 April 2024, Arthur Hayes shared his prediction on Bitcoin ahead of halving, which is expected to happen before the end of this month.
He said that the trade price of Bitcoin will fall sharply just before & after Bitcoin halving.
Arthur explained that US dollar liquidity is expected to be tighter than usual, fueling heightened selling pressure on crypto assets.
However, starting from May 1, the tightening rhythm will ease, reverting to the typical pace in line with US inflation.
In short, Arthur believes a significant dump in the trade price of Bitcoin will occur around Bitcoin halving but he indirectly suggested people take that moment as an opportunity to accumulate Bitcoin at a discounted price.
On the recent ups & downs in the trade price of Bitcoin, Arthur noted that Bitcoin rose above $70,000 and reached around $74,000 and predicted on behalf of the market sentiments that cryptocurrencies like Solana continued to surge, including meme coins inspired by dogs and cats.
He admits that his predictions were off, but for now he believes that just like unexpected good skiing conditions in March won’t happen again in April.
It is worth it to note that Arthur always remains open with his investment ideas in crypto assets & projects. Usually, he keeps sharing his investment activities with his followers.
Nowadays, Arthur supports the Ethena crypto project and we can see that the trade price of Ethena ( ENA) crypto coin surged nearly 98% in the last 7 days.
Earlier this, BitMex co-founder showed his full support for Sol coin and finally exited from Sol investment at a $100 trade price.
Read also: Fantom creator defends Solana (Sol) amid network congestion issues
