Arthur Hayes Optimistic Bitcoin Prices Will Rise

Bitcoin is predicted to rise by Arthur Hayes. (Photo; Doc. Unsplash)

JAKARTA - The price of Bitcoin is still experiencing a recent increase despite lawsuits from the US Securities and Exchange Commission (SEC), which makes analysts optimistic about the next increase. After facing selling pressure earlier this week, Bitcoin (BTC) experienced a significant increase today and is approaching USD 27,000 (equivalent to IDR 402 million).

Currently, BTC is trading at a 3.2 percent increase at a price of 26,603 US dollars (equivalent to Rp396 million) and a market capitalization of 515 billion US dollars (Rp7.6 quadrillion). This increase has grown optimism among Bitcoin fans, with analysts again feeling optimistic about this cryptocurrency.

Former CEO of BitMEX, Arthur Hayes, recently tweeted that it was time to follow the next Bitcoin increase. Earlier this week, Bitcoin (BTC) and the overall crypto market experienced significant selling pressure following SEC lawsuits against crypto exchange Binance.

This led to a massive withdrawal from the Binance platform, which then pushed the price of BTC down below US$26,000 (Rp387 million). However, the increase that occurred today brought an interesting technical graph pattern. Ali Martinez, a well-known crypto analyst, stated that a buy signal from TD Sequential appeared on the graph per hour, which could push Bitcoin up to the range of 27,000 - 27.300 US dollars (Rp406 million).

Former CEO of BitMEX, Arthur Hayes, remains optimistic about Bitcoin (BTC). He suggested that Bitcoin remain above the level of US$26,100 (Rp388 million) to avoid a possible decline. If that level is not maintained, then there is a possibility that we will also lose the 200-Sunday MA on Total Crypto Market Capitalization. This shows the importance of paying attention to the movement of Bitcoin prices in maintaining stability and preventing a larger decline.

In conclusion, despite SEC's lawsuit against Binance, Bitcoin is experiencing a significant increase. This is encouraging Bitcoin fans and makes analysts feel optimistic again. Keep an eye on the price of Bitcoin not to drop below key levels, and technical analysis remains to be considered to see further movement. All eyes are focused on the next movement of the world's largest cryptocurrency.