Bitcoin is showing signs of risk amid the looming disturbances in the U.S. and global economy, says Arthur Hayes, a leading figure in cryptocurrency, in his most recent Bitcoin price outlook.
Hayes believes that Bitcoin (BTC) could trend towards $35,000 or lower due to a looming global macroeconomic crisis.
In his latest blog post, titled "Yellen or Talkin?" published on January 24, Hayes, who served as the CEO of the cryptocurrency exchange BitMEX, presented his short-term Bitcoin price prediction.
While Bitcoin is still up by 75% compared to last year, he suggests that it could face significant downward volatility in the coming quarter due to a combination of factors.