Crypto Sentiment Plunges into ‘Extreme Fear’ as Arthur Hayes Predicts Bitcoin to Crash to $50K After US Jobs Data Release
Join us telegram Stay up to date with the latest news coverage by subscribing to our channels.
Cryptocurrency investor sentiment has plunged into “extreme fear” after BitMEX co-founder Arthur Hayes predicted that Bitcoin would fall below $50,000 this weekend following the release of U.S. jobs data.
Crypto Fear and Greed Index Be stagnant It has increased by 7 points in the last 24 hours, and is now at 22 points after dropping by 12 points last week.
Arthur Hayes Short BTC
“BTC is heavy,” Hayes told his 534.2K followers in a September 6 post on X. He added that he was “targeting” a Bitcoin price drop below $50,000 this weekend, before revealing that he had entered a short position on the largest cryptocurrency by market cap.
$Bitcoin Heavy. I’m aiming for under $50k this weekend. I shorted shamelessly. Pray for my soul. I’m regressive.
— Arthur Hayes (@CryptoHayes) September 6, 2024
By prediction Hayes Comes after Bitcoin It has fallen more than 2% over the last 24 hours, trading at $55,698.20 as of 3:45 AM ET.
In the data Coinglass Ahead of the release of US jobs data, traders have liquidated around $98 million in cryptocurrencies over the past day, which will be a major factor in how far the crypto market will grow.The Federal Reserve cuts interest rates.
Michael Van De Poppe, more bullish than Arthur Hayes, predicts ‘biggest bull run ever’
However, Michael van de Poppe, a prominent cryptocurrency trader and analyst, is more bullish on BTC than Hayes, telling his 724,000+ followers in a September 5 post on X that a potential crash is unlikely.
that #bitcoin The surge is approaching
It’s common. The 4 year cycle is just like any other cycle, but the significance of this cycle is similar to gold in the 1930s or the https://t.co/GoodB359DI crash in 2000.
The influence of $Bitcoin It’s going to get huge in the future… pic.twitter.com/ZARsWX4qf8
— Michael van de Poppe (@CryptoMichNL) September 5, 2024
Instead, he believes “the market is gearing up for the biggest bull run ever,” which he added could be the “last” bull run before a “big” economic crisis.
Related articles:
Most Searched Crypto Launch – Pepe Unchained
- Layer 2 Meme Coin Ecosystem
- Featured on Cointelegraph
- SolidProof and Coinsult audited
- Staking Rewards – pepeunchained.com
- ICO Raises Over $10 Million – Closing Soon
Join us telegram Stay up to date with the latest news coverage by subscribing to our channels.