Bitcoin Price Predicted to Fall Below $50,000 This Weekend
2024-09-06
Bittime - Arthur Hayes, one of the founders of BitMEX predicts that Bitcoin prices will fall drastically below $50,000 this weekend so he has taken a short position.
Bitcoin Price Fall, Take Position Short Bitcoin
Bitcoin short positions or short selling strategies are strategies for selling Bitcoin in the hope of being able to buy the asset back at a lower price.
In other words, investors bet that the price of the asset will fall, so they can profit from the difference between the selling price and the repurchase price.
In this case, Hayes announced that he had taken a short position on Bitcoin. That is, he hopes that the price of Bitcoin will fall, and if his prediction is correct, he can profit from the decline.
Read Also: Short Term Bitcoin Price Prediction, Drop To $50,000?
Bitcoin Prices Prediction Drop This Week
In world of crypto, Arthur Hayes' predictions come true so often that they are worth paying attention to. He is already known as an investor who dares to take high risks.
In his post, Hayes even joked that he was a degen. The word ‘degen’ is slang in the crypto world, which refers to someone who engages in high-risk investments in the hope of making big profits.
Bitcoin Market Reaction Bitcoin Price Prediction
Source: Bittime.com
Shortly after Hayes' statement, the market responded with increased selling pressure. Traders appear to be starting to consider short Bitcoin positions as well.
When this article was written, Bitcoin prices were still holding above the $50,000 level. Based on the Bittime market, the price of Bitcoin (BTC) was observed to have fallen 0.80% and was trading at IDR 875,103,387 or around $56,999.
Read Also: Bitcoin DeFi TVL Predicted to Surpass Ethereum in 2 Years
How to Buy Crypto with Bittime
You can buy and sell crypto assets in an easy and safe way through Bittime. over is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Monitor graphic movement price Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.
