Arthur Hayes, co-founder of BitMEX, has published a forecast for bitcoin amid the recent financial market turmoil. «Liberation Day», as the US president called the day of the introduction of increased customs tariffs — April 2, strongly hit the financial and cryptocurrency markets. However, bitcoin still has a chance to regain ground if it can stay above the critical mark.
«The market doesn’t like «Liberation Day». If BTC can hold $76.5k between now and tax day in the US (April 15), we’re out of the woods», Hayes wrote.
Interestingly, on March 4, 2 Hayes predicted a possible drop of bitcoin to $70 thousand.but remains bullish on long-term growth. After falling to $76.5 thousand, there is a great chance to rebound to $110 thousand.
On April 2, Donald Trump announced the introduction of new tariffs of at least 10% on imports from all countries, which caused the stock markets to fall. The Dow Jones dropped by 0.61%, the S&P 500 by 1.69%, and the Nasdaq Composite lost 2.54%. The mining business is suffering. The new tariffs apply to 60 countries that Trump called trade offenders and raised rates for them (it is still unknown what the penguins of the uninhabited Heard and Macdonald Islands are to blame for).
Mexican President Claudia Sheinbaum announced a comprehensive program as a response to the United States, and Canada promises new tariffs on American goods.
Source: X
