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Bitcoin has entered a period of relative calmWith its price oscillating between $ 81,000 and $ 89,000 in the last sessions. This new stability has reassured many traders, as the chances of a sharp decline below $ 80,000 have decreased considerably. The sales pressure begins to facilitate Buyers are gradually interveningAnd the market seems to be in an accumulation phase, which is often a precursor of another rally.
Even with the relaxation of the sales pressure, there is always a risk of failure of less than $ 80,000 at any time. However, the CEO of Dormer Bitmex and renamed Cryptographic Investor Arthur Hayes recently shared a daring projection that Bitcoin will reach $ 110,000 before releasing the price level of $ 76,500.
Arthur Hayes predicts that $ 110,000 will come above all decline at $ 76,500
In the current state of things, Bitcoin is closer to $ 75,000 than for $ 110,000, but the popular cryptography commentator Arthur Hayes thinks that the main cryptocurrency will reach the latter before the first. A climb at $ 110,000 will result in a new summit of all time for Bitcoin, because its current peak is $ 108,786, which takes place in January.
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Bitcoin is currently negotiated at around 20.3% below this top, and concerns about a deeper correction are valid. The possibility of a decline at $ 76,500 is always a real concern, especially since this price is a little less the local bottom of this month, and it can be quickly retetest before another rebound.
Hayes comments On the social media platform, X offered both a price objective and a macroeconomic justification. Hayes said: “I bet that $ BTC reaches $ 110,000 before it hates $ 76.5,000”, adding that market momentum and changes in monetary policies are more likely to raise the price of Bitcoin rather than another correction to $ 76,500. He went further to suggest that once Bitcoin met $ 110,000, he cannot look back before he started to approach $ 250,000. This price objective resonates with the prospects of other cryptographic analysts.
Incoming changes in monetary policies
Hayes’ reasoning is central to the changing position for the liquidity of the federal reserve. He stressed that the Fed is in transition From quantitative tightening (QT) to a new quantitative assistance phase (QE), in particular on the treasury markets. Although the Fed has been engaged in quantitative tightening (QT) since June 2022, there are now discussions on the break or slowdown in the balance sheet. According to Reuters, Some analysts predict A change towards an approach more similar to an QE.
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This change could potentially inject more liquidity into the financial system, pushing assets like Bitcoin at higher price levels. Hayes also rejected the concerns about inflation, declaring that the president of the Fed seems to consider him as “transitional inflation”.
At the time of writing this document, Bitcoin is negotiated at $ 86,600, after exchanging an intra -day summit of $ 88,713 in the last 24 hours.
Felash star image, tradingView.com graphic
