Arthur Hayes, founder of BitMEX, recently shared a bearish prediction for Bitcoin (BTC), expecting it to fall below $50,000 this week. This gloomy outlook follows Bitcoin’s poor performance after it dropped under the $60,000 mark at the end of August.
On August 30, Bitcoin traded at about $59,010. It held this level for a few days before taking a sharp dip on September 4, following Fidelity’s sale of 2,812 BTC. By September 7, Bitcoin had settled at around $54,692, marking a 7% decline over the week.
Additionally, Bitcoin’s 24-hour trading volume has dropped by 20%, showing decreasing investor interest. This might explain why Hayes thinks Bitcoin could fall below $50,000 soon.
Investors Turn to RCO Finance to Avoid Losses
With Bitcoin looking risky, investors are turning to RCO Finance as a safer option. RCO Finance uses AI and blockchain technology to provide access to over 12,500 crypto and traditional assets, helping investors diversify and lower risks. Its standout feature is an AI-powered robo-advisor that suggests investment moves based on data from 120,000+ assets.
This robo-advisor can even trade on behalf of investors, making decisions that fit their risk tolerance and goals. RCO Finance also offers features like yield farming and non-KYC debit cards to spend crypto easily.
RCOF Token Gaining Attention During Pre-Sale
Investors are also eyeing RCO Finance’s token, RCOF, which powers transactions on the platform. With a limited supply of 800 million tokens and deflationary mechanics, RCOF is attracting interest as a long-term investment. SolidProof, a trusted security firm, has audited its smart contract, giving it more credibility.
As of September 7, RCOF is in Stage 2 of its pre-sale at $0.0344, and prices are expected to rise as it moves to Stage 3 and beyond, eventually reaching $0.4-$0.6 at launch. Experts believe RCOF could follow Bitcoin’s massive growth trajectory in the coming years.
Reference: Cryptonomist
