Arthur Hayes： Bitcoin may hit bottom at $70000, waiting for central bank easing policy before adding positions

Odaily Planet Daily News: Arthur Hayes posted on X platform, stating the need to maintain great patience and predicting that Bitcoin may bottom at around $70000, meaning a 36% drop from its historical high of $110000, which is a common correction in bull markets. Next, he believes that the stock market, especially SPX and NDX, will enter a free fall phase. Then, it is expected that the Federal Reserve, European Central Bank, and Bank of Japan will adopt loose policies to stimulate their respective countries' economic recovery. He suggested a 'massive entry' in this situation. For traders, although they may have missed the bottom, they can still avoid experiencing long-term volatility and potential unrealized losses. If we are more cautious, we can wait for the implementation of loose policies by major central banks before increasing capital investment.