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Title: Bitcoin Dominance Could Reach 70% as Financial Uncertainty Grows – Arthur Hayes Says
In a recent statement, Arthur Hayes, the co-founder and former CEO of BitMEX, warned that the current financial uncertainty may propel Bitcoin’s dominance to reach an unprecedented 70%. This forecast comes amid market volatility caused by trade war fears, which have already triggered $240 million in cryptocurrency outflows.
According to CryptoSlate data, the majority of cryptocurrency assets are still struggling to recover from the recent downturn. Meanwhile, Bitcoin (BTC) has demonstrated remarkable resilience, remaining unaffected by the turmoil in traditional financial markets. This trend may continue, as investors seek safer haven assets amidst growing economic uncertainty.
Arthur Hayes’ prediction suggests that institutional investors and retail traders alike may increasingly turn to Bitcoin as a secure store of value and hedge against global market instability. As such, it’s possible that BTC could regain its lost ground, reclaiming the 70% dominance mark.
Disclaimer: This article is for informational purposes only and should not be considered investment advice. Please do your own due diligence before taking any action related to cryptocurrency markets.
Source: X x.com/cryptoslate
Source: https://cryptoslate.com/bitcoin-dominance-could-reach-70-as-financial-uncertainty-grows-arthur-hayes-says/
