{"id":429950,"date":"2022-04-11T17:18:01","date_gmt":"2022-04-11T14:18:01","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-keeps-falling-as-former-bitmex-ceo-gives-30k-btc-price-target-for-june\/"},"modified":"2022-04-11T17:18:01","modified_gmt":"2022-04-11T14:18:01","slug":"bitcoin-keeps-falling-as-former-bitmex-ceo-gives-30k-btc-price-target-for-june","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-keeps-falling-as-former-bitmex-ceo-gives-30k-btc-price-target-for-june\/","title":{"rendered":"# Bitcoin keeps falling as former BitMEX CEO gives $30K BTC price target for June"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3b39b8bfb0d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3b39b8bfb0d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-keeps-falling-as-former-bitmex-ceo-gives-30k-btc-price-target-for-june\/#%E2%80%9D_Bitcoin_keeps_falling_as_former_BitMEX_CEO_gives_30K_BTC_price_target_for_June_%E2%80%9C\" >&#8221; Bitcoin keeps falling as former BitMEX CEO gives $30K BTC price target for June &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-keeps-falling-as-former-bitmex-ceo-gives-30k-btc-price-target-for-june\/#Bitcoin_edges_toward_40000\" >Bitcoin edges toward $40,000<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-keeps-falling-as-former-bitmex-ceo-gives-30k-btc-price-target-for-june\/#Markets_in_for_%E2%80%9Cmassive_shock%E2%80%9D\" >Markets in for \u201cmassive shock\u201d<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_keeps_falling_as_former_BitMEX_CEO_gives_30K_BTC_price_target_for_June_%E2%80%9C\"><\/span>&#8221; Bitcoin keeps falling as former BitMEX CEO gives $30K BTC price target for June &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) saw a predictable fall into the Wall Street open on April 11 as bears took the market toward $40,000.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/4a35429e-2027-47aa-a571-930a20816b54.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_edges_toward_40000\"><\/span>Bitcoin edges toward $40,000<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>\u00a0showed last week\u2019s downtrend gathering pace Monday after a dis<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ointing weekly close.<\/p>\n<p>The calm weekend thus gave way to volatility as the new week began, this being led by equities losing ground worldwide.<\/p>\n<p>In Asia, the Hang Seng closed down 3% on the day in Hong Kong, while the Shanghai Composite Index finished 2.6% lower. Germany\u2019s DAX traded 0.77% in the red at the time of writing, mimicking the FTSE 100 in London.<\/p>\n<p>With Wall Street just starting out, attention focused on the strength of the United States dollar, as evidenced by a repeat surge of the U.S. dollar currency index (DXY) over the 100 mark Monday.<\/p>\n<p>\u201cLooking a little overextended here, not that it\u2019s noticeable in risk assets just yet,\u201d <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> commentator B C Richfield <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BC_Richfield\/status\/1513454162364747776\">argued<\/a>, showing a potential pullback target range. <\/p>\n<blockquote><p>\u201cExpecting a pull back to 99.437 area which is the prior range high. Hold here then we could see more blood in the water for risk assets like crypto but close back in the range and\u2026\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/1036cde3-8474-4f95-82ba-90c4439db7b4.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>DXY chart with significant levels. Source: B C Richfield\/Twitter<\/em><\/figcaption><\/figure>\n<p>With Bitcoin firmly tipped to follow equities as they struggle through central bank policy tightening, the mood was subdued as BTC\/USD fought for $41,000 support.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Rejection it is for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>. <\/p>\n<p>Let\u2019s try to find support in the green zone. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/qNKK1Tu7eC\">https:\/\/t.co\/qNKK1Tu7eC<\/a><\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1513458618481401858?ref_src=twsrc%5Etfw\">April 11, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Meanwhile, Tuesday\u2019s Consumer Price Index (CPI) readout for March was tipped to lay bare the reality of inflationary pressures since the Russia\u2013Ukraine war began in Europe late February. <\/p>\n<p>The conflict and its impact on supply chains, notably food, had not yet figured in CPI data, which was nonetheless already at 40-year highs.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Markets_in_for_%E2%80%9Cmassive_shock%E2%80%9D\"><\/span>Markets in for \u201cmassive shock\u201d<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Crypto veterans, however, increasingly held a different view. Rather than raising rates and reversing asset purchases to deal with inflation, central banks would in fact have no choice but to continue their previous course despite soaring prices.<\/p>\n<p><strong><em>Related:\u00a0BTC stocks correlation \u2018not what we want\u2019 \u2014 5 things to know in Bitcoin this week<\/em><\/strong><\/p>\n<p>\u201cThere\u2019s a massive shock in economic markets brewing (&amp; really soon) that\u2019s going to cause central banks around the world to aggressively reverse course in their \u2018tightening\u2019 talk,\u201d podcast host Preston Pysh <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PrestonPysh\/status\/1513512342457364482\">tweeted<\/a> on the day. <\/p>\n<blockquote><p>\u201cThe 40 year trend line in bond yields is breaking down and YCC in the US is right around the corner.\u201d<\/p><\/blockquote>\n<p>Pysh\u2019s argument echoed that of former BitMEX CEO Arthur Hayes, who, in his latest <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptohayes.medium.com\/the-q-trap-f1a38312f00f\">blog post<\/a> on the economy, revealed a complete lack of trust in the idea that the Federal Reserve, in particular, was really trying to reduce inflation.<\/p>\n<p>\u201cAs I have said many times, the goal is not to actually fight inflation, but to appear to fight inflation so that domestic politicians can survive an angry populace that works more but can afford less,\u201d he wrote. <\/p>\n<blockquote><p>\u201cCentral bankers must tighten, tighten, and tighten some more, but not too much \u2014 because positive real rates would completely destroy the debt-based global economy.\u201d<\/p><\/blockquote>\n<p>Should that end up being a silver lining for crypto, then the devil was all in the timing. An initial comedown in stocks from tightening could nonetheless send Bitcoin considerably lower at first.<\/p>\n<p>\u201cThe great thing about a 24\/7 market accessible to all humans with an internet connection is that things happen quickly,\u201d Hayes added. <\/p>\n<blockquote><p>\u201cBy the end of the second quarter in June of this year, I believe Bitcoin and Ether will have tested these levels:\u00a0Bitcoin: $30,000,\u00a0Ether: $2,500.\u201d<\/p><\/blockquote>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-keeps-falling-as-former-bitmex-ceo-gives-30k-btc-price-target-for-june\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin keeps falling as former BitMEX CEO gives $30K BTC price target for June &#8220; Bitcoin (BTC) saw a predictable fall into the Wall Street open on April 11 as bears took the market toward $40,000. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin edges toward $40,000 Data from Cointelegraph Markets Pro and TradingView\u00a0showed&#8230;<\/p>\n","protected":false},"author":1,"featured_media":429951,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvMWEyN2M3MzktYzk1NC00YTA0LTk4N2UtZTlmYTI2ZTFlODYzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,70550,70551,73785,68637,70359],"class_list":["post-429950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-federal-reserve","tag-inflation","tag-markets","tag-predictions","tag-stocks"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/429950","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=429950"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/429950\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/429951"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=429950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=429950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=429950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}