Jakarta, Pintu News – Bitcoin (BTC) experienced another sharp drop this week, plunging below $104,000 and sparking panic in the crypto market. While Arthur Hayes, co-founder of BitMEX, advised investors to use the drop as a buying opportunity, Andrew Tate, a controversial influencer, predicted an even deeper drop for Bitcoin.
Bitcoin saw a decline of almost 2% on Friday, hitting a four-month low according to data from Coingecko. The drop came after reports of financial difficulties at Zions Bank and Western Alliance Bank, raising fears of wider contamination.
Arthur Hayes considers this panic to be a short-term distraction. Through platform X, Hayes stated, “BTC is on sale,” adding that if this US regional banking problem develops into a full-fledged crisis, investors should prepare for a possible bailout like the one in 2023.
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Arthur Hayes remains optimistic despite the market showing signs of anxiety. According to him, the current price drop is an opportunity to buy Bitcoin (BTC) at a lower price. Hayes believes that Bitcoin’s fundamentals are still strong and will be able to recover from this short-term pressure.
Hayes advises investors to stay calm and see this as an opportunity to accumulate more Bitcoin. He argues that the crisis in the banking sector may trigger government intervention, which could ultimately benefit the crypto market.
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On the other hand, Andrew Tate has a very different view. Tate predicts that Bitcoin could fall to its lowest level in September 2023, which is around $26,000, before bouncing back. This prediction is based on his analysis of market volatility and external factors affecting the global economy.
Tate emphasized that the crypto market is heavily influenced by sentiment and global macroeconomic conditions. He argues that investors should be prepared to face more hurdles before seeing a significant rise in the price of Bitcoin.
The Bitcoin market is currently full of uncertainty, but the differing views of Arthur Hayes and Andrew Tate provide a broad perspective for investors. Whether it’s the right time to buy or to prepare for a possible further decline is up to each investor. What is clear is that the dynamics show how complex the crypto market has become.
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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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