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Is the Bitcoin bull market already over? According to US crypto expert Arthur Hayes, difficult times are ahead for the crypto market. He expects price losses in the near future. This will cause Bitcoin to fall to $100,000
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Bitcoin: Bull Market Already over? Expert Expects Price Losses
Is the Bitcoin bull market already over again? Crypto expert Arthur Hayes seems to be taking this expectation at the moment. The US American had long taken an optimistic position.
Hayes had already predicted at the beginning of the year a bull market that would start in May and help the Bitcoin price to rise to 250,000 US dollars by the end of 2025. In July, the cryptocurrency actually managed to reach new all-time highs.
- Bitcoin
(BTC) - Price $116,160.00
- Market Cap
$2.31 T
The current Bitcoin record was set on July 14 at $123,091. Since then, the largest cryptocurrency has mostly been trading just below the $120,000 threshold.
At the time of going to press, BTC is trading at $114,418. To reach a new all-time high, the cryptocurrency would have to rise by 7.60 percent from here. If you believe Arthur Hayes, this is unlikely to happen for the time being.
On Saturday, Hayes responded to a post by Lookonchain. The blockchain analysts had noticed that the US American had sold cryptocurrencies worth more than 13 million US dollars.
“Why? New US tariffs are coming in the third quarter – at least that’s what the market believes. No large economy is creating enough credit to increase nominal GDP. As a result, Bitcoin is testing $100,000 and Ethereum $3,000”, Hayes explains.
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With his comment, he refers to a statement by the US government. On July 31, the White House issued a press release stating that it would adjust US import tariffs. For products from some countries, this means a price increase that causes uncertainty in the financial markets. This in turn leads to a flight from the crypto market, because it is considered risky – at least that is Hayes’ forecast.
This is how Immense the Crypto Losses Due to US Politics are Supposed to Be
With his latest analysis, Hayes predicts enormous crypto losses that would be caused by US politics. If the Bitcoin price actually falls to $100,000, this would correspond to a loss in value of 12.30 percent.
Ethereum is trading at $3,550 at the time of going to press. According to Hayes, the second-largest cryptocurrency is likely to be hit even harder. To fall to $3,000, ETH would have to experience a price loss of 15.50 percent.
- Ethereum
(ETH) - Price $3,966.77
- Market Cap
$478.87 B
Hayes announced a presentation on August 25, with which he wants to deepen his forecast. On this day, he will visit a conference called Web X, which will take place in Tokyo on August 25 and 26.
This time, the expert is encountering a lot of contradiction among his readers. Hayes is misjudging his source, some readers argue. Hayes refers to the monthly report called NFP, which is published by the US Bureau of Labor Statistics.
According to NFP, there is currently only a slight increase in jobs to be seen in the USA. Hayes suspects that this is related to the weakening industry in the country, which is migrating abroad, for example.
An important factor plays into the statistics: the repatriation policy of US President Donald Trump. According to some commentators, the fact that hundreds of thousands of illegal immigrants have been deported or at least lost their jobs is the real reason for the poor figures in the labor statistics.
