Arthur Hayes: Bitcoin has bottomed out; I maintain my prediction of reaching $250,000 by the end of the year.

Odaily Planet Daily reports that BitMEX co-founder Arthur Hayes recently stated in a program that despite only about 30 days left until the end of the year, he maintains his prediction that Bitcoin will rise to $250,000. Hayes believes that Bitcoin's previous pullback to $80,600 and the bottoming out of dollar liquidity have both occurred. He points out that with the deleveraging in October and the end of institutional "basis trading" strategies through ETFs, the market has completed its reset. Combined with macroeconomic expectations that the Federal Reserve may end quantitative tightening (QT) and further cut interest rates, these catalysts are expected to push Bitcoin past its current all-time high of $126,220, reaching the $250,000 target before the end of the year. (The Crypto Basic)