Arthur Hayes： We firmly believe that we are still in a bull market cycle, and the most extreme price of Bitcoin will be $70000

Odaily Planet Daily News: Arthur Hayes published a long article stating: "I firmly believe that we are still in a bull market cycle, so the worst bottom will be the historical high of $70000 from the previous cycle. I am not sure if we will fall that low. A positive signal of US dollar liquidity is that the US Treasury Department's general account is declining, which plays a role in injecting liquidity. If this round of rise is just a 'dead cat jump', I expect Bitcoin to fall back to a low of around $80000, giving us another chance to enter the market. If the S&P 500 or Nasdaq 100 index falls 20% to 30% from historical highs, coupled with a large financial institution on the brink of bankruptcy, we may experience a synchronized adjustment in the global market. At that time, all risky assets will be sold together, and Bitcoin may fall below $80000 again, or even fall back to $70000. No matter how the market changes, we will cautiously buy on dips, not use leverage, and patiently wait for the final violent fluctuations in the fiat financial market. Once the global economy recovers under the leadership of the United States, Bitcoin is expected to surpass $1000000 or even higher.