Arthur Hayes: Cryptocurrencies Will Fall After Bitcoin Halving

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BitMEX exchange’s founder, Arthur Hayes, is predicting a prolonged period of decline for the cryptocurrency market following the Bitcoin halving.

He urges traders to prepare for a bearish trend, as signs of it have already surfaced this week. According to Hayes, the pressure will increase at the end of April and intensify after the BTC halving.

He believes that the market will require resources to adjust to the new conditions, leading to a wave of sales that could trigger a significant decline not only in Bitcoin, but also in other digital currencies.

Hayes emphasized that while many are focused on the potential increase in cryptocurrency value after the halving, he expects the opposite – a drop and a surge of sales. However, he also acknowledged that the market may prove them wrong and actually see an upward trend.