Authur Hayes, the co-founder and former Chief Govt Officer (CEO) of cryptocurrency trade and buying and selling platform, BitMEX has launched one other weblog publish, predicting a serious fireplace sale and a potential worth decline for Bitcoin, the world’s largest cryptocurrency. 

Bitcoin Fireplace Sale Imminent

In his weblog publish, Hayes supplied an in depth evaluation, explaining his views on how the Bitcoin halving occasion would adversely have an effect on the value of the cryptocurrency. 

The Bitcoin halving is an prevalence that takes place each 4 years which reduces Bitcoin miner block rewards by half. This, in flip, decreases the quantity of Bitcoin created and results in a rise within the cryptocurrency’s worth. 

Whereas most analysts within the crypto market anticipate a bullish rally for Bitcoin and different altcoins throughout the halving occasion, Hayes holds a extra contradictory view, suggesting that the halving interval may as a substitute provoke a extra bearish motion than anticipated.

Hayes has acknowledged that the worth of Bitcoin and different cryptocurrencies are prone to pump throughout the halving interval, no less than within the medium time period.  Nevertheless, the BitMEX co-founder has additionally predicted that the value motion of Bitcoin each earlier than and after the halving occasion may doubtlessly flip adverse.  

He revealed that as a result of the 2024 Bitcoin halving coincides with a interval of diminished liquidity within the United States Greenback (USD), it may doubtlessly ignite a “raging fireplace sale for crypto property.” The crypto founder additionally foresees the value of Bitcoin and different cryptocurrencies plummeting round this time. 

In consequence, Hayes has suggested the broader crypto neighborhood to chorus from buying and selling cryptocurrencies throughout this era. He emphasised that when the vast majority of the market members agree on a selected final result, resembling a rally induced by the Bitcoin halving, the market tends to maneuver in the other way. 

Regardless of his fascinating predictions, Hayes conceded that the crypto market may defy his bearish forecasts, primarily recognizing the speculative nature of his prediction. 

Hayes Says April Is The Finest Time To Quick Promote

In his weblog publish, Hayes unveiled that the interval from April 15 to Might 1, 2024, could be precarious for dangerous property within the monetary sector. That is attributed to tax funds draining liquidity from the system and Quantitative Tightening (QT) accelerating throughout this timeframe.

The crypto founder has urged that this era may doubtlessly current a primary quick place for merchants, indicating that April might be the best month for quick promoting. He predicts that after Might 1, the market will revert to its “common programming.”

BTC worth above $70,000 | Supply: BTCUSD on Tradingview.com