RATE Group | Bitcoin price: Cryptocurrency CEO reveals KEY level bitcoin must hit | City & Business | Finance
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Bitcoin price: Cryptocurrency CEO reveals KEY level bitcoin must hit | City & Business | Finance

20 Jul Bitcoin price: Cryptocurrency CEO reveals KEY level bitcoin must hit | City & Business | Finance

Posted at 20:33h in Cryptocurrency News by

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Bitmex founder and CEO Arthur Hayes dismissed claims that the recent bitcoin rally was simply a short squeeze as he put forward his point for why a bitcoin peak could soon happen. 

Speaking on CNBC, Mr Hayes said: “I don’t actually think we’ve seen the worst.

“I think this is a very strong rally on good volume and we definitely could see $8,000 or $9,000 and maybe just shy of $10,000.

“We’ve been here before earlier in the spring, we rallied from $5,800 to in the high $9,000 level but didn’t quite crack $10,000.

“I think similar action will happen this time and I would like to see us test $5,000 to really see if we put a bottom in it.”

Bitcoin price stood at £7,552.19 at 18:00 (BST) on Friday, according to CoinDesk. It saw its highest price before Christmas when it almost hit $20,000.

On Friday, the Indian Government began working on ways and which it will reform its policy on cryptocurrencies.

The Indian Government appear to be one step closer to a resolution, with…

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