According to Arthur Hayes, former CEO of crypto exchange BitMEX, Bitcoin will not be able to stay above $30,000.
The coin will resume its retreat in the near future and find a bottom around $25,000. According to him, Ether is also likely to correct, and Hayes has identified its fundamental values in the range of $1,700 to $1,800.
The former BitMEX CEO has recently published an article in which he has urged traders to focus on the policy of the Fed. If the US regulator changes tactics and refuses to tighten the monetary rate, then the risks of a more significant rollback of BTC and ETH will be leveled.
Many other experts also believe the Fed’s policies have a direct impact on the value of cryptocurrencies. For example, Galaxy Digital CEO Mike Novogratz has recently said the US regulator may soon put a hold on rate hikes and we will see capital flow into the tech sector, including digital currencies.