Crypto Market News: Arthur Hayes, the chief govt officer of crypto change BitMEX, mentioned the smaller U.S. regional banks nonetheless face the hazard of collapse, as in opposition to the massive banks that maintain treasuries and mortgage backed securities. He mentioned the crypto market will profit from exchanges transferring from one nation to a different, because it may assist folks get acquainted with Bitcoin. “As long as more and more people get to know the crypto ecosystem, it’s a win for the industry,” he mentioned. Meanwhile, he made a prediction in regards to the timeline for Bitcoin price breaching the all time excessive.
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How Will Bitcoin Do By December 2023
The BitMEX CEO mentioned Bitcoin may not attain the $70,000 mark this 12 months however the 12 months 2024 could possibly be good for the crypto market. He mentioned the highest cryptocurrency may face one other collapse in 2025 and 2026 as a consequence of geopolitical tensions. However, regardless of the chance to make income, he predicted that most individuals is not going to put money into Bitcoin. He made the feedback in the course of the What Did Bitcoin podcast.
“Next year (2024) is when I think we will cross that barrier ($70,000) and we get the blow off top in 2025 or 2026. And then it’s Armageddon.”
Interestingly, Hayes mentioned he did put money into PEPE Coin, the sensational memecoin that took the crypto market by storm within the final 2 months.
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