Crypto Now Braced For A ‘Powder Keg’ That Could Play Havoc With The Price Of Bitcoin And Ethereum
https://www.forbes.com/sites/digital-assets/2023/06/02/crypto-now-braced-for-a-powder-keg-that-could-play-havoc-with-the-price-of-bitcoin-and-ethereum/
Bitcoin, ethereum and crypto prices have been trading sideways for months (though the CEO of one major crypto company thinks that could be about to change).
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The bitcoin price has dropped back from year-to-date highs of just over $30,000 per bitcoin, with the ethereum price falling along with it—even as excitement over a possible end to Ripple's long-running legal battle has helped XRP break out.
Now, after JPMorgan analysts issued a severe $1.1 trillion warning, the former chief executive of bitcoin and crypto exchange Bitmex Arthur Hayes has predicted a crypto market "powder keg" could go off as soon as this year.
"You’re basically putting this powder keg together of a situation that’s going to be exploding in [the third and fourth quarter] of this year, and I think, ultimately, it will be good for bitcoin," Hayes, who now runs a family office called Maelstrom, told the What Bitcoin Did podcast. "It will be quite volatile on the upside and the downside."
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Now, after JPMorgan analysts issued a severe $1.1 trillion warning, the former chief executive of bitcoin and crypto exchange Bitmex Arthur Hayes has predicted a crypto market "powder keg" could go off as soon as this year.
"You’re basically putting this powder keg together of a situation that’s going to be exploding in [the third and fourth quarter] of this year, and I think, ultimately, it will be good for bitcoin," Hayes, who now runs a family office called Maelstrom, told the What Bitcoin Did podcast. "It will be quite volatile on the upside and the downside."
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