back to top
HomeBitcoinBitcoin poised for an ATH in October? Arthur Hayes predicts…

Bitcoin poised for an ATH in October? Arthur Hayes predicts…

-

  • Bitcoin’s decline is linked to geopolitical tensions, but bullish sentiment persists.
  • Arthur Hayes predicted a rise in liquidity and a possible Bitcoin surge earlier than the fifth of November.

After not too long ago peaking at $65,000, Bitcoin [BTC] skilled a notable decline and was buying and selling at $61,742—after lowering 3.52% within the final 24 hours.

This drop coincides with escalating geopolitical tensions within the Center East, elevating issues amongst buyers.

Arthur Hayes stays optimistic

Nonetheless, Arthur Hayes, the founding father of BitMEX and Maelstrom, stays optimistic about BTC’s trajectory.

In a latest dialogue following the TOKEN2049 occasions in Singapore, he expressed robust confidence that Bitcoin might probably attain a brand new all-time excessive this October.

Hayes’ predictions present a counterpoint to the present market volatility, suggesting that bullish sentiment should still prevail within the cryptocurrency area. 

Remarking on the identical, Hayes famous, 

“In October. Before the election.”

Arthur Hayes argues that the prevailing political instability within the U.S. has generated a “vacuum of power,” fostering chaos that would profit Bitcoin.

He predicts a surge in liquidity because the fifth of November approaches, implying that this uncertainty will entice buyers to gravitate towards cryptocurrencies as a safer asset.

This shift in sentiment, he proposed, might catalyze a major enhance in BTC’s value as individuals search refuge from conventional monetary volatility.

Scaramucci jumps in

Including to the thrill, Anthony Scaramucci, founding father of SkyBridge Capital, engaged the crypto neighborhood on X by playfully hinting at a promising month forward with the time period “Uptober.”

Supply: Anthony Scaramucci/X

This intelligent fusion of “up” and “October” highlights an optimistic outlook for cryptocurrency markets this fall.

Hayes’s love for MOTHER token

That being stated, Hayes additionally expressed his enthusiasm for memecoins, notably Iggy Azalea’s MOTHER.

He highlighted the latest rate of interest cuts by the Federal Reserve, the European Central Financial institution, and China, hinting at an impending fiscal “bazooka” that would stimulate market exercise.

In contrast to many tasks that usually prioritize fast features, Hayes appreciates the MOTHER staff’s real dedication, noting their lively involvement within the challenge somewhat than simply aiming for a pump-and-dump scheme.

This authenticity, he believes, units MOTHER aside within the evolving memecoin panorama.

 Expressing his viewpoint, Hayes added, 

“It’s meme coin season. We have a very positive liquidity environment, and meme coins are the most levered to that.” 

Lately, on the twenty seventh of September, the on-chain analytics agency Lookonchain reported that Hayes made a major withdrawal of 24.39 billion PEPE tokens, valued at roughly $252,680, from Binance.

This substantial transfer might point out that PEPE is poised for a notable rally, suggesting that its upward momentum might have simply begun and will probably surge within the coming days.

BTC value motion

In the meantime, on the value entrance, Bitcoin skilled a decline of over 3% within the final 24 hours.

Nonetheless, the Relative Energy Index (RSI), at the moment at 48, is trending upwards, indicating a possible bullish development reversal on the horizon.

BTC/USDT

Supply: Buying and selling View

Conversely, whereas MOTHER was down by greater than 4% throughout the identical interval, its RSI, sitting at 61, factors that bullish momentum remains to be outpacing bearish strain.

MOTHER/USDT

Supply: Buying and selling View

Subsequent: Ethereum’s lively addresses decline by 18.23% YTD: Impression on ETH?

LEAVE A REPLY

Please enter your comment!
Please enter your name here

CAPTCHA


LATEST POSTS

BP shares are up 7% in per week however nonetheless yield 5.4% with a P/E of simply 6! Time for me to purchase?

Picture supply: Getty Photos. I purchased BP (LSE: BP) shares final month as a...

Quantity Of Ethereum Whales Holding 10,000 ETH Down By 7% — Implication For Worth? | Bitcoinist.com

The crypto market just lately suffered a big downturn as a result of escalating geopolitical tensions within the Center East, with a number of large-cap...

Tunisians vote in election, with essential rival to President Saied in jail By Reuters

By Tarek Amara TUNIS (Reuters) -Tunisians started voting on Sunday in an election through which President Kais Saied is looking for a second time...

Is the Shares and Shares ISA protected?

Picture supply: Getty Pictures With a brand new authorities freshly within the field seat...

Most Popular