Arthur Hayes: Bitcoin Will Fall Below $50,000 This Weekend

On Friday, co-founder and former CEO of BitMEX crypto exchange Arthur Hayes stated that he predicts Bitcoin’s price will go below $50,000 over the weekend.

He disclosed that he has placed a short bet, indicating his belief in a decrease in price. In an X post, he remarked:

“Pray for my soul, for I am a degen.”

The Bitfinex analysts recently cautioned that the expected Federal Reserve interest rate cut could lead to further declines in Bitcoin’s price.

They explained that a smaller 25 basis point cut could have a positive impact in the long run by increasing liquidity and reducing recession fears. However, a larger cut may have a negative effect on the price. If Bitcoin experiences a 20% drop, it would amount to a value of $46,000, a level that hasn’t been seen since Feb. 8.