As Bitcoin (BTC) begins the new week in which the FED interest rate decision will be announced, it is wondered whether these declines will continue.
At this point, former BitMEX CEO Arthur Hayes, whose predictions are closely followed, said that Bitcoin will continue to decline and may experience a sharp correction in the short term.
Hayes said that he expects the current downtrend to continue for a while and the decline could continue to the low levels of $70,000 to $75,000.
Hayes, who stated in his post that he predicted that this correction could lead to a small financial crisis, added that he expected a big rise afterwards.
Hayes said he expects money printing to resume as global central banks continue quantitative easing and Bitcoin to continue its upward trend, rising to $250,000 by the end of the year.
“It’s going to be ugly tomorrow morning.
I expect a correction to $70,000 to $75,000 in Bitcoin and then a mini financial crisis.
“Then I expect the uptrend to continue and, once money printing resumes, BTC will hit $250,000 by the end of the year.”
Bitcoin, which briefly fell below $100,000, continues to be traded at $100,160 at the time of writing.
