On Thursday, April 28, 2022, BTC is up 2.04% to $39,432 USD.So, along with Ethereum (ETH) and Solana (SOL), it is one of the few coins in the top 20 that has made money in the last year.
People who work at the Bitcoin Mercantile Exchange (BitMEX) think that bitcoin will have a bright future. Arthur Hayes, who founded and was the CEO of BitMEX, thinks this. He is sure that BTC will hit the $1 million mark before the end of the decade.
When Hayes wrote a blog post, he talked about the effects the coronavirus pandemic and the war in Ukraine will have on the world’s largest economies. Because of the consequences, he is afraid that it will show that central banks are no longer in charge.
Hayes said that bitcoin and gold will be the big winners when the flaws in Western financial policy come to light.
“When the game is over, controlling the yield curve is what you want to do to win. This means the value of the US dollar compared to gold and bitcoin will never change again. It’s now possible for bitcoin to rise to $1 million, and gold can rise from $10,000 to $20,000. Politically, there is no other choice that is acceptable. The actions against Russia are a sure sign that yield curve control will come sooner than you think. “
Bitcoin’s technical prices are shown in this graph.
Bitcoin recently fell below the 38.2% Fibo retracement of $38,815, which had been its support. However, it was able to end yesterday above this level, which suggests that the short-term recovery will keep going.
This can now go on to the 50% Fibo retracement of $40,607. If the bulls can break through this barrier, they could make gains up to the 61.8 percent Fibo retracement of $42,399, which would be a gain of approximately $4,000,000.
On the other hand, the 23.6 percent Fibonacci retracement of $36,599 can help if the bears bring down the 38.2 percent Fibonacci retracement, which could help the bears even more.
