Wednesday, February 8, 2023

Recovering crypto market may dive again, this expert guessed

The cryptocurrency market has been witnessing a period of uncertainty for several months. The world’s most popular cryptocurrency bitcoin is trading around $20,000 after a record fall. While the crypto market has shown a slight correction this week, experts are also cautioning about the dangers to come. Taking a serious view, former BitMEX CEO Arthur Hayes said in the latest Twitter thread that this relief may be temporary. Forced selling in the short term can drag down the entire market.

of cryptopotato Report According to the U.S., Arthur Hayes predicted the possibility of a bullish sell-off of bitcoin in the near term, accounting for about half of its total holdings. Taking a dig at crypto lending platforms
The former BitMEX CEO also pointed to their “weak risk management” strategy as well as generous lending terms. Also expected the forced sale of bitcoin and ethereum (ETH).

Cryptocurrency prices in Indian exchanges

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