A man who helped create a big place where people trade something called Bitcoin, named Arthur Hayes, thinks that the price of Bitcoin will go down soon before March 12th. He believes it could reach around $30,000 to $35,000 and then might go up again. This is because some important people have to decide if they want to keep lending money to banks, which could affect how much money is available for everyone else. Read from source...
- The title is misleading and sensationalized, implying that BitMex co-founder Arthur Hayes is a new expert on Cramer's level, which is not supported by the article.
- The article lacks proper sourcing and attribution for Hayes' predictions and bets, making it seem like they are factual statements rather than opinions or speculations.
- The article does not explain the context or significance of the BTFP renewal decision, which is a crucial factor in Hayes' forecast, leaving readers uninformed and confused about why this matters for Bitcoin's price.
- The article uses vague and ambiguous terms like "difficult level" and "local bottom", without defining what they mean or how they are calculated, making it hard to understand the basis of Hayes' analysis.
- The article does not present any counterarguments or alternative perspectives on Bitcoin's price performance or outlook, giving a one-sided and biased view of Hayes' predictions.
Bearish
Key points from the article:
- Arthur Hayes predicts a Bitcoin bottom of $30,000 to $35,000, citing technical analysis. He bets on it with put options at $35,000.
- Hayes' primary driver for the forecast is the March decision on renewing banks' lending program, saying non-renewal could tighten markets.
- Expect a local bottom between $30,000 and $35,000, Hayes predicts.