{"id":573667,"date":"2022-07-22T19:22:05","date_gmt":"2022-07-22T18:22:05","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=573667"},"modified":"2022-07-22T19:22:05","modified_gmt":"2022-07-22T18:22:05","slug":"bitcoins-18k-level-probably-constitutes-a-bottom-and-will-be-retested-says-bitmexs-hayes","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/bitcoins-18k-level-probably-constitutes-a-bottom-and-will-be-retested-says-bitmexs-hayes\/","title":{"rendered":"Bitcoin’s $18k Level Probably Constitutes a Bottom and Will be Retested, says Bitmex’s Hayes"},"content":{"rendered":"
Summary:<\/p>\n
Bitmex’s<\/a> founder and former CEO, Arthur Hayes, has forecasted<\/a> that Bitcoin’s most recent lows around the $18k price area probably constitute a bottom.<\/p>\n According to his analysis, a Bitcoin bottom is usually retested before a proper bull market begins. Therefore, Bitcoin’s current move from $18k to $24k could just be a investors ‘short-covering.’ He explained:<\/p>\n Some of you savvy readers might have bottom ticked the market by buying Bitcoin below $18,000. That level will probably constitute the bottom; however, a bottom is usually tested again before the bull market begins in earnest.<\/p>\n Bear market rallies are viscous in their ability to force short covering. I don\u2019t believe this rally from $18,000 to almost $24,000 is any different.<\/p><\/blockquote>\nBitcoin Will Bottom Before the US Treasury or Fed Changes its Policy.<\/h2>\n