{"id":28902,"date":"2022-06-02T13:24:08","date_gmt":"2022-06-02T17:24:08","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=28902"},"modified":"2022-06-02T13:24:17","modified_gmt":"2022-06-02T17:24:17","slug":"bitcoin-ethereum-losses-may-have-bottom-at-these-levels-hayes","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitcoin-ethereum-losses-may-have-bottom-at-these-levels-hayes\/","title":{"rendered":"Bitcoin, Ethereum Losses May Have Bottom At These Levels – Hayes"},"content":{"rendered":"\n
Crypto exchange BitMex co-founder, Arthur Hayes,\u00a0says Bitcoin<\/a> and Ethereum may have reached a bottom in their recent losses.<\/h5>\n\n\n\n
\"Bitcoin,<\/figure>\n\n\n\n

Hayes said in a blog post\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> that Bitcoin's bottom range is between $25,000 and $27,000. While Ethereum will find support between $1,700 and $1,800.<\/p>\n\n\n\n

But, as Hayes pointed out, neither token is ready to make a significant comeback just yet. Pressure from the Federal Reserve's rates increase and rising inflation are expected to placate market sentiment.<\/p>\n\n\n\n

The Bitmex founder laid out a scenario in which Bitcoin and Ethereum may launch a recovery. However, such a scenario will take some time to play out.<\/p>\n\n\n\n

There is a need to dump Short term Investors before market recovery<\/strong><\/h3>\n\n\n\n

According to Hayes, one of the main factors impacting Bitcoin and Ethereum is that most short-term investors are trading at losses. Such traders will sell to reduce losses rather than hold until profitability.<\/p>\n\n\n\n

As such, any market recovery could be quickly hampered by sellers dumping their positions to regain some value.<\/p>\n\n\n\n

This choppy price action will eviscerate the capital of short-term traders who half-heartedly believe this is the bottom. These folks want <\/p>\n\n\n\n

This choppy price action will eviscerate the capital of short-term traders who half-heartedly believe this is the bottom. These folks want to catch the knife and exit for a quick profit.<\/em><\/p>\n\n\n\n

-Hayes<\/em><\/p>\n\n\n\n

Hayes said Terra's recent sale of 80,000 Bitcoin to back its stablecoin had already eased a lot of selling pressure off the token. Which he predicted would be the bottom.<\/p>\n\n\n\n

Additionally, Hayes said that a recent divergence between crypto and stock markets also signaled that a bottom may be in sight.<\/p>\n\n\n\n

When will Bitcoin and Ethereum start to recover?<\/strong><\/h3>\n\n\n\n

Hayes said that the market will recover only if short-term traders have been relieved of their capital.<\/p>\n\n\n\n

He advised traders to remain patient with the market. He claims that “diamond-handed monkeys” can only return to active trading after short-term traders have left. Though he did not provide a specific timeframe<\/p>\n\n\n\n

Hayes also maintained his earlier prediction that Ethereum will surpass $10,000 by the year's end. Nonetheless, as the Federal Reserve tightens monetary policy, he predicts far more market volatility in the interim.<\/p>\n","protected":false},"excerpt":{"rendered":"

Crypto exchange BitMex co-founder, Arthur Hayes,\u00a0says Bitcoin and Ethereum may have reached a bottom in their recent losses. Hayes said in a blog post that Bitcoin’s bottom range is between $25,000 and $27,000. While Ethereum will find support between $1,700 and $1,800. But, as Hayes pointed out, neither token is ready to make a significant […]<\/p>\n","protected":false},"author":32,"featured_media":28904,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[81],"tags":[152],"class_list":["post-28902","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin-news","tag-bitcoin"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/btc-eth.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/28902","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=28902"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/28902\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/28904"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=28902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=28902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=28902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}