Arthur Hayes, former CEO of crypto exchange BitMEX, said in his latest essay early Friday that bitcoin has likely bottomed at this week’s lows of $56,000, but warned investors to expect a gradual climb instead of a swift recovery to the March highs as markets will cool for the next few months. “Did bitcoin hit a local low […] earlier this week,” asked Hayes. “Yes,” he concluded. “I expect prices to bottom, chop, and begin a slow grind higher.”
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- Source: https://www.coindesk.com/markets/2024/05/03/bitcoin-hits-62k-as-cryptos-bounce-correction-likely-over-but-expect-a-slow-grind-higher-arthur-hayes-says/?utm_medium=referral&utm_source=rss&utm_campaign=headlines