Arthur Hayes predicted the growth of the bitcoin cryptocurrency this week

Arthur Hayes, co-founder of the notorious BitMEX cryptocurrency exchange, said that he closed his position in bitcoin with a 3% profit. In his opinion, the price of the flagship cryptocurrency may rise in the near future.

Arthur Hayes noted that the increase in the value of BTC $65,642.27 Bitcoin -0.19% Market capitalization $1.3 trillion VOL. 24 hours $0.59 billion may occur in anticipation of an inflow of dollar liquidity from the US Federal Reserve. «I closed a short on bitcoin with a 3% profit. This is enough to cover my food expenses. There is a chance that the coin will show growth this week,» he said.

As an additional positive factor influencing the rate of the first cryptocurrency, the businessman noted the statement of US Treasury Secretary Janet Yellen that the situation in the economy is strong and healthy, and there will be no recession. According to the entrepreneur, investors are waiting for the US Treasury to act, and only after that it will be possible to make predictions about the dynamics of the bitcoin price in the medium term.

Earlier , Hayes noted that although bitcoin remains a strong asset, its volatility can lead to a drop in the rate. He explains that after a significant increase in the value of the cryptocurrency in 2023, the market may «digest» the accumulated profits. This process, according to the analyst, is usually accompanied by corrections.