TechFlow news — On March 4, Arthur Hayes, co-founder of BitMEX, said in a recent blog post: "I firmly believe we are still in a bull market cycle, so the worst-case bottom would be the prior cycle's all-time high of $70,000. I'm not sure we'll drop that low. A positive signal for dollar liquidity is the declining balance in the U.S. Treasury General Account, which acts as a form of liquidity injection. If this rally is merely a 'dead cat bounce,' I expect Bitcoin to retrace to around $80,000, giving us another entry opportunity.
If the S&P 500 or Nasdaq 100 falls 20% to 30% from its all-time highs, coupled with a major financial institution nearing bankruptcy, we could experience a synchronized global market correction. In that scenario, all risk assets would be sold off together, and Bitcoin might fall below $80,000 again, potentially correcting down to $70,000.
No matter how the market evolves, we will cautiously buy the dips, avoid using leverage, and patiently wait for the ultimate violent shock in fiat financial markets.
Once the global economy, led by the United States, moves toward recovery again, Bitcoin has the potential to break through $1,000,000—or even higher."
