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Bitcoin is one period of relative calmnessWith its price that $ 81,000 and $ 89,000 in the past different sessions. This new stability has reassured many traders, because the chance of a sharp fall of less than $ 80,000 has decreased considerably. Sales pressure starts to relieve, Buyers come in graduallyAnd the market seems to be in a battery phase, which is often a precursor of another rally.
Even with reducing sales pressure, there is still a risk of demolition below $ 80,000 at any time. However, Dormer Bitmex CEO and the renowned crypto investor Arthur Hayes recently shared a daring projection that Bitcoin will reach $ 110,000 before the price level of $ 76,500 is re -tested.
Arthur Hayes predicts that $ 110,000 will come before a withdrawal of up to $ 76,500
As it looks now, Bitcoin is closer to $ 75,000 than at $ 110,000, but the popular crypto commentator Arthur Hayes believes that the leading cryptocurrency will reach the last for the first. A climb to $ 110,000 will translate into a new of all time for Bitcoin, because the current peak is $ 108,786, set in January.
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Bitcoin currently acts about 20.3% below that high, and concern about a deeper correction are valid. The possibility of a withdrawal to $ 76,500 is still a genuine care, especially because that price is just below the local low point of this month, and it can be restored quickly before another bump becomes.
Hayes’ Comments On social media platform X, X offered both a price target and a macro -economic reasoning. Hayes stated: “I bet $ BTC will hit $ 110k before it tests $ 76.5k again,” so that the momentum of the market is clarified and shifts in monetary policy more likely to push the Bitcoin price up instead of another correction to $ 76,500. He continued to suggest that as soon as Bitcoin crosses $ 110,000, it may not look back before it starts to approach $ 250,000. This price target resonates with prospects from other crypto analysts.
Incoming shifts in monetary policy
Central to Hayes’ reasoning is the changing position of the Federal Reserve in liquidity. He pointed out that the Fed is transition From quantitative tightening (QT) to a new phase of quantitative relaxation (QE), in particular in the Treasury markets. Although the FED has been involved in quantitative tightening (QT) since June 2022, there are now discussions about pausing or delaying the outcome of the balance. According to Reuters, Some analysts predict A shift to a more QE-like approach.
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This shift may inject more liquidity in the financial system, so that assets such as Bitcoin are pushed to higher price levels. Hayes also rejected the concern about inflation and stated that the FED chairman seems to regard it as ‘temporary inflation’.
At the time of writing, Bitcoin acts at $ 86,600, after being traded at an intraday height of $ 88,713 in the last 24 hours.
Featured image of Unsplash, graph of TradingView.com
