Currently, Bitcoin is valued at $69,926, representing a significant decline of 45% from its peak of $126,000 in October. Arthur Hayes, co-founder of BitMEX, expressed reluctance to invest in Bitcoin until the US Federal Reserve adjusts its monetary policy. On the Coin Stories podcast, he stated that if he had $1 to invest today, he would refrain from putting it into Bitcoin.
Hayes believes that the ongoing geopolitical conflict, particularly involving the US and Iran, could lead to increased volatility in the market, potentially causing Bitcoin to drop below $60,000. He indicated that this could result in a significant sell-off in both equities and Bitcoin.
Despite his cautious approach, Hayes maintains a long-term prediction of Bitcoin reaching $250,000 by 2026. He emphasized that he would start buying Bitcoin once the Fed begins to print more money. Meanwhile, other analysts, such as Michaël van de Poppe, remain optimistic about Bitcoin's short-term prospects, citing potential boosts from market trends.