Advertisement
AD

Main navigation

Arthur Hayes Doubles Down on His Bearish Bitcoin Price Prediction

Advertisement
Tue, 22/11/2022 - 8:40
Arthur Hayes Doubles Down on His Bearish Bitcoin Price Prediction
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Former BitMEX CEO Arthur Hayes has doubled down on his $10,000 Bitcoin price prediction in a recent tweet.

Advertisement

This comes after cryptocurrency firm Genesis, a subsidiary of Barry Silbert's Digital Currency Group, has reportedly started warning about potentially facing bankruptcy without funding.

"Well that's the end of that. Now all my friends in restructuring will be asking if I know anyone at Genesis I can connect them with," Hayes commented.

Related
Hundreds of Millions of XRP Moved by Whales as Price Shows Bullish Setup

As reported by U.Today, Genesis's lending arm was forced to suspend withdrawals on Nov. 16 after allegedly failing to secure $1 billion in fresh funding.

For now, however, Genesis says that it does not plan to file bankruptcy. The firm has now lowered its bailout target to $500 million, according to The Wall Street Journal.

Crypto giant Binance has reportedly passed on a potential deal out of concern that this could create a conflict of interest.

As reported by U.Today, Hayes said that he was ready to buy Bitcoin at $10,000 after Genesis's lending arm announced the suspension of withdrawal.

On Monday, the price of Bitcoin dropped to a new two-year low of $15,479 on the Bitstamp exchange.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD