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Crypto Market News: Arthur Hayes, the chief executive officer of crypto exchange BitMEX, said the smaller U.S. regional banks still face the danger of collapse, as against the large banks that hold treasuries and mortgage backed securities. He said the crypto market will benefit from exchanges moving from one country to another, as it could help people get familiar with Bitcoin. “As long as more and more people get to know the crypto ecosystem, it’s a win for the industry,” he said. Meanwhile, he made a prediction about the timeline for Bitcoin price breaching the all time high.
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How Will Bitcoin Do By December 2023
The BitMEX CEO said Bitcoin might not reach the $70,000 mark this year but the year 2024 could be good for the crypto market. He said the top cryptocurrency could face another collapse in 2025 and 2026 due to geopolitical tensions. However, despite the opportunity to make profits, he predicted that most people will not invest in Bitcoin. He made the comments during the What Did Bitcoin podcast.
“Next year (2024) is when I think we will cross that barrier ($70,000) and we get the blow off top in 2025 or 2026. And then it’s Armageddon.”
Interestingly, Hayes said he did invest in PEPE Coin, the sensational memecoin that took the crypto market by storm in the last 2 months.
Also Read: Memecoins Prints Selective Growth as Crypto Market Recovers, Here are the High Fliers
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