Arthur Hayes: We are still firmly in a bull market cycle, and the most extreme price of Bitcoin will be $70,000

Odaily Planet Daily News Arthur Hayes published a long article, in which he pointed out: "I firmly believe that we are still in a bull market cycle, so the worst bottom will be the historical high of $70,000 in the previous cycle. I am not sure if we will fall that low. A positive signal of US dollar liquidity is that the general account of the US Treasury is declining, which plays the role of liquidity injection. If this round of rise is just a "dead cat jump", I expect Bitcoin to fall back to a low of around $80,000, giving us another chance to enter the market. If the S&P 500 or Nasdaq 100 falls 20% to 30% from its historical highs, coupled with the bankruptcy of a large financial institution, we may experience a synchronized adjustment in the global market. At that time, all risky assets will be sold off together, and Bitcoin may fall below $80,000 again, or even pull back to $70,000. No matter how the market changes, we will be cautious about buying on dips, not using leverage, and patiently waiting for the final violent shock in the fiat financial market. When the global economy recovers again under the leadership of the United States, Bitcoin is expected to break through $1,000,000 or more.”