During the time of intense market volatility, BitMEX CEO Arthur Hayes has predicted that bitcoin will surge up to $20,000 by the end of this year. He announced his latest bitcoin prediction saying central banks will force bitcoin to surge to $10,000 and then $20,000 by the end of this year.
Bitcoin crashes to $6,300 in a major sell-off.
The price of the leading bitcoin crashed to $6,300 amid a major sell-off. At the time of writing, bitcoin is changing hands at just above $6,300. The price of bitcoin is down 17.5% in the last 24-hours. The coronavirus pandemic has caused financial markets all over the world to collapse, and it turned out bitcoin was also not immune to this spreading outbreak.
Central banks continue to print more cash.
BitMEX CEO Arthur Hayes opined that as central bank printing presses switch into beast mode, Bitcoin should enjoy a nice run back through $10,000 towards $20,000 by year-end. He further added that banks will cut rates to zero and announce open-ended quantitative easing. Hayes recommended first to fill your bitcoin bags and then stocking up on altcoins.
At the moment, it looks like bears are dominating the market. Bitcoin failed to prove itself as a safe haven amid the global pandemic. With central banks printing more cash, bitcoin is most likely to gain positive momentum in the near future.
Hot off the press the next issue of the Crypto Trader Digest. A look into my trader brain during this time of intense market volatility. https://t.co/sWmNnvMk25
— Arthur Hayes (@CryptoHayes) March 12, 2020