Arthur Hayes, founder and former CEO of crypto exchange BitMEX, believes that Bitcoin hit the bottom in June.
According to him, the fall to $18,000 registered last month was a landmark event for the entire market. Many traders and speculators left the crypto sphere after such a collapse. It was at this moment that the largest digital currency was able to find the bottom, after which the risks of a new rollback were minimized.
Some investors took advantage of Bitcoin’s short-term drop below $18,000 and bought at a comfortable price.
He has explained:
“This level was probably the bottom. However, the bottom is usually tested again before the market returns to the bullish phase.”
