RATE Group | Bitcoin Price Hasn’t Bottomed Yet, According to BitMEX CEO
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Bitcoin Price Hasn’t Bottomed Yet, According to BitMEX CEO

22 Jul Bitcoin Price Hasn’t Bottomed Yet, According to BitMEX CEO

Posted at 09:14h in Bitcoin News by

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Bitcoin (BTC) recently gained over $700 in less than 45 minutes, marking an increase of upwards of 10 percent. This has left a lot of the experts wondering whether the world’s largest cryptocurrency has finally entered its long-awaited bull market. According to Arthur Hayes, however, we haven’t seen the worst Bitcoin price yet.

Bitcoin currently trades at $7,322, marking a slight decrease of 1.91 percent over the last 24 hours. Regardless, the price is up with more than $1,100 from seven days ago, after surging with more than 10 percent July 17th.

Bitcoin price chart

The Worst Is Yet to Come

Despite the substantial price increase, Arthur Hayes, CEO of cryptocurrency exchange BitMEX, holds that we have yet to see a serious decline. Speaking to CNBC’s Fast Money Thursday, July 19th, he noted:

I don’t actually think we’ve seen the worst, – while also adding – I would like to see us test 5,000 to really see if we put a bottom in.

Hinting that Bitcoin hasn’t bottomed…

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