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bitcoin
Bitcoin (BTC) $ 17,028.63
ethereum
Ethereum (ETH) $ 1,259.98
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 289.33
usd-coin
USD Coin (USDC) $ 1.00
xrp
XRP (XRP) $ 0.386959
binance-usd
Binance USD (BUSD) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.101043
cardano
Cardano (ADA) $ 0.317595
solana
Solana (SOL) $ 14.01
matic-network
Polygon (MATIC) $ 0.91231
polkadot
Polkadot (DOT) $ 5.48
tron
TRON (TRX) $ 0.052918
Tuesday, December 6, 2022
HomeCoinsBitcoinArthur Hayes Believes BTC Might See $10k After Genesis Chapter

Arthur Hayes Believes BTC Might See $10k After Genesis Chapter

  • Genesis is struggling to lift cash for the lending unit.
  • The chapter of Genesis might set off a panic sell-off from BTC holders.
  • BTC is presently buying and selling at $15,744.83 after a 1.64% drop in worth.

Arthur Hayes, the co-founder of BitMEX, took to Twitter on November 21 to share his issues in regards to the crypto lending agency Genesis, and the implication this may have on cryptocurrencies, particularly Bitcoin (BTC).

In his submit, Hayes added a snippet from Bloomberg stating that Genesis is struggling to lift cash for the lending unit. The corporate then continued to warn its buyers that in the event that they fail of their try to lift funds, they may haven’t any alternative however to file for chapter.

Genesis has been in a liquidity crunch as the corporate is likely one of the many victims of the FTX meltdown. The lending platform has spent the previous few days looking for at the very least $1 billion in recent capital.

Hayes concluded his Tweet along with his prediction that BTC might fall to $10k due to this. That is in all probability on account of the truth that the entire crypto market continues to be recovering from the FTX drama, and a shock just like the chapter of Genesis might set off a panic sell-off from BTC holders in an try to save lots of their funding.

Bitcoin / TetherUS 1D (Supply: CoinMarketCap)

Information from CoinMarketCap signifies that BTC is presently buying and selling at $15,744.83 after a 1.64% drop in worth over the past 24 hours. The crypto market chief was in a position to attain a excessive of $16,246.61 and a low of $15,599.05 over the identical time interval. BTC can also be nonetheless within the pink by greater than 6% over the past seven days.

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BTC’s 24-hour buying and selling quantity presently stands at $33,275,537,893 after a greater than 13% enhance over the past day.

Disclaimer: The views and opinions, in addition to all the data shared on this worth evaluation, are printed in good religion. Readers should do their very own analysis and due diligence. Any motion taken by the reader is strictly at their very own danger. Coin Version and its associates is not going to be held chargeable for any direct or oblique harm or loss

BitcoinMasterNews

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