According to Arthur Hayes, while BTC may experience a slight decline in price, the collapse of shares in major regional US bank, New York Community, and potentially other banks over the weekend could trigger new surges in the price of Bitcoin. The bank’s shares plummeted by over 45% following an unexpected loss at the end of 2023 and a significant dividend reduction.
“BTC will then kick-start its race, with prices set to rise on March 23,” the crypto blogger firmly asserts.
On March 19-20, the US Federal Reserve System (FRS) is scheduled to release its forecast on changes to the key interest rate, currently being prepared by the Open Market Committee. This serves as the primary reason to anticipate fluctuations in cryptocurrency values during this period, as hinted by the influencer.
Arthur Hayes believes that the bullish market trend in cryptocurrencies is only just beginning. Although 2024 may bring volatility, the financial markets are expected to reach new record highs by the end of the year.
Recently, the crypto blogger had mentioned that BTC prices could experience a significant drop in the near term due to increasing investor expectations of inflation. They admitted that the price of the world’s first cryptocurrency may fall to $30,000.