Arthur Hayes maintains his prediction that Bitcoin will reach $250,000 by the end of the year.

Former BitMEX co-founder and CEO Arthur Hayes maintains his prediction that Bitcoin (BTC) will rise to $250,000 by the end of the year, an increase of approximately 170%. Hayes believes Bitcoin has bottomed out, with last week's drop to $80,600 marking the bottom, and it has since rebounded by about 12%. Hayes points out that the US liquidity tightening cycle is nearing its end, with the Federal Reserve cutting interest rates by 25 basis points in October. The market expects quantitative tightening (QT) to end as early as the beginning of December, with an 87% probability of another rate cut on December 10th. Coupled with the reset effect of the cryptocurrency market leverage liquidation on October 11th, this will provide upward momentum for Bitcoin. Although he acknowledges that his prediction may be flawed, he remains optimistic in the long term.