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BitMEX CEO Arthur Hayes recently suggested that Bitcoin could "take the staircase" up to $20,000. However, given that Hayes excels in trolling (not price predictions), Bitcoiners should exercise caution.
Bitcoin finally blasts past $10,000
The BTC price finally surpassed the psychologically important $10,000 mark at 3:00 UTC on Feb. 9. Considering that the leading cryptocurrency has just reached its highest level since Oct. 26, this fact prompted a lot of unnecessary excitement on crypto Twitter.
Anthony Pompliano of Morgan Creek Digital saw this an opportunity to jump into the race to compete for the most bullish price prediction of 2021.
According to his earlier forecast, BTC was supposed to hit $100,000 in 2019, which turned out to be incredibly inaccurate. However, this time around, Pompliano might hit the nail on the head with the April halving in the offing.
A bad omen?
Last time when Hayes predicted that BTC could hit $20,000, things didn't go well for the top cryptocurrency.
On Sept. 18, he tweeted that the top crypto could reach the aforementioned mark when it was trading at the very same price level. This coincided with the US Federal Reserve kicking off a new phase of quantitative easing. However, in just one week since his tweet, the price of Bitcoin witnessed a massive crash that only turned out to be the start of a 50 percent rout.
Thus, crypto traders have a good reason to believe that this could be another short signal.