BitMEX CEO Arthur Hayes made a rather pessimistic short-term forecast for the leading cryptocurrency Bitcoin. Arthur Hayes warned that Bitcoin is ready to test the $ 3,000 region in the short term. BitMEX CEO told Crypto Trader Digest (Crypto Transaction Summary), as US exchanges are getting one step closer to the collapse, all asset classes can “explode” which can lead to a correction in Bitcoin price. Bitcoin Can Fall As Exchanges Keep Dropping BitMEX CEO Arthur Hayes predicts that the US stock market will retreat following a superficial and strong recovery that began in late March. The decline in exchanges will be the main reason for Bitcoin to retest $ 3,000 in the short term. Hayes explained his view as follows: Bitcoin will be unclaimed. Can the price retest $ 3,000? Absolutely. While SPX is overturning and testing 2,000, wait for all asset classes to crash. Arthur Hayes said that in early 2020, when Bitcoin price was at $ 9,000, BTC would see a deep correction. Right in his predictions, the CEO thinks BTC will see these levels again. Time will show whether this time will be right or not. Long Term Outlook of Bitcoin (BTC) BitMEX CEO Arthur Hayes warned of Bitcoin’s short-term future, but still believes that Bitcoin will reach its all-time high this year. Hayes estimates that Bitcoin’s price will reach $ 20,000 by the end of this year. As countries continue to report more and more cases and deaths, the coronavirus pandemic continues to increase. The exponential growth in COVID 19 cases has made the United States the new epicenter of the virus. Scientists said it could take 12 to 18 months for the virus vaccine to be found. According to Arthur Hayes’s prediction, Bitcoin still seems to be moving along with traditional markets, and if markets collapse in the coming period, Bitcoin price will naturally follow this downturn.
