Matthias Weber (1matthias)

Current state of affairs in the crypto market 🥲

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Words to live by! 🙌

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Arthur Hayes has a new article with thoughts on the crypto market. Key points: He mentions that the current market is boring but suitable for building positions. He notes that the Fear Index is currently at 27 (FEAR). He expects BTC to reach $100k this fall. He highlights that the Bank of Japan has backed off and anticipates an influx of liquidity into the crypto market. He forecasts vertical movements in altcoins only when BTC returns to $70k and ETH to $4k. He points out that BTC dominance has been decreasing in recent weeks. He believes the crypto market will break out of its sideways movement in September. He anticipates an upward surge in October, triggered by elections. At that time, Arthur plans to take some profits and move into stablecoins, particularly sUSDe. He expects the next bullish market phase to start in early 2025, following the resolution of the US debt ceiling issue. His long-term forecast remains unchanged: $1 million per Bitcoin.

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recast:farcaster://casts/0x503996c1a9436b644f4064cf2b8119d32755a053db7ed4073d17145fd2819710

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