Arthur Hayes Says Bitcoin Has Hit the Bottom
Former BitMEX CEO Arthur Hayes, on Scott Melker's podcast, said that the first cryptocurrency hit the low of the current cycle, as almost all "irresponsible organizations" ran out of BTC to sell.
Hayes explained that in times of financial difficulty, centralized lending firms often first turn to loans and then sell bitcoin, which acts as a reserve liquid asset.
According to the expert, the digital asset market expects a partial recovery in 2023 against the backdrop of another launch of the "printing press" of the US Federal Reserve.
