Crypto Market News: Arthur Hayes, the chief executive officer of crypto exchange BitMEX, said the smaller U.S. regional banks still face the danger of collapse, as against the large banks that hold treasuries and mortgage backed securities. He said the crypto market will benefit from exchanges moving from one country to another, as it could help people get familiar with Bitcoin. “As long as more and more people get to know the crypto ecosystem, it’s a win for the industry,” he said. Meanwhile, he made a prediction about the timeline for Bitcoin price breaching the all time high.

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How Will Bitcoin Do By December 2023

The BitMEX CEO said Bitcoin might not reach the $70,000 mark this year but the year 2024 could be good for the crypto market. He said the top cryptocurrency could face another collapse in 2025 and 2026 due to geopolitical tensions. However, despite the opportunity to make profits, he predicted that most people will not invest in Bitcoin. He made the comments during the What Did Bitcoin podcast.

“Next year (2024) is when I think we will cross that barrier ($70,000) and we get the blow off top in 2025 or 2026. And then it’s Armageddon.”

Interestingly, Hayes said he did invest in PEPE Coin, the sensational memecoin that took the crypto market by storm in the last 2 months.

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Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Reach out to him at [email protected].

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.