Arthur Hayes shared his opinion on the current sentiments of the Bitcoin market and said that below the $35k BTC price we have an opportunity to accumulate Bitcoins.
The current trade price of Bitcoin (BTC) is $39,776 & this trade price is 7.5% down over the last 7 days of trade price.
10 hours ago, Bitcoin was trading at a $38.5k trade price. The last two weeks’ Bitcoin price chart has shown a clear picture of increasing panic levels among Bitcoin traders.
After the approval of Bitcoin spot ETF applications by the United States Securities and Exchange Commission (SEC), the trade price surged to $48.5k but later started to crash.
Notebely between 11 Jan to 25 Jan, the trade price of Bitcoin crashed nearly 20%, as the hype of Bitcoin spot ETF over.
According to BitMex co-founder & veteran Bitcoin trader Arthur Hayes, the trade price of Bitcoin may crash to a maximum of $30k because the bottom support for this top Crypto asset is between $30k to $35k.
Popular Bitcoin hater & CNBC host Jim Cramer also shared his opinion on the current Bitcoin market sentiments and said that no inflow of money will take place in the market and further added that Bitcoin is going down only.
Usually, Cramer criticises Bitcoin every week & month but the investors react totally opposite to Cramer’s Bitcoin investment advice. So here we can expect that Bitcoin is now going to achieve stability in price and soon will start to pump in small step-by-step phases.
Here we also need to understand that Bitcoin halving will take place in April of this year ( nearly 95 days) and Bitcoin will follow its past patterns of downfall but after the completion of the Bitcoin halving event, the trade price of Bitcoin will follow parabolic growth. So people should take the pre-Bitcoin halving period as an opportunity to accumulate some fraction of Bitcoins.
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