Arthur Hayes outlined a bleak outlook for Bitcoin, suggesting that in the worst case, it may gradually decline to the $50,000 mark. The previously-bullish Hayes is now modifying his forecast, saying that the market will stay bearish in the near term, especially until late September. ADVERTISEMENT He predicts that Bitcoin will only slightly increase during this time, while altcoins will probably see much larger drops. His logic is based on macroeconomic elements like the U.S. government's spending patterns and the futile tightening policies of the Federal Reserve. According to Hayes, as 10-year Treasury yields approach the risky 5% mark, the bond market will tighten conditions - something the Fed has not done. BTC/USDT Chart by TradingView This change may put a stop to the current bull run on the stock market and raise questions about the balance sheets of smaller banks, which would put more pressure on riskier assets like Bitcoin. It is noteworthy that Hayes continues to hold a bullish long-term outlook. He has not sold all of his assets, and he may even buy more of a few different cryptocurrencies
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