China’s Top Bitcoin Miner Suggests Arthur Hayes Is Right About BTC Bottom

Jiang Zhuoer, one in all China’s best-known Bitcoin (BTC) miners, sees the Bitcoin backside touchdown between $42,000 and $44,000 in late 2026, intently matching Arthur Hayes’ current $40,000 name.

The founding father of mining pool BTC.TOP laid out the forecast in a publish, constructing it on a bearish sign from Strategy’s inventory, MSTR. His timing and goal each land close to the BitMEX co-founder’s.

Strategy’s mNAV Discount Echoes the 2022 Low

Jiang’s case rests on Strategy’s mNAV, which he pegs at 0.72. The metric weighs the inventory towards the Bitcoin the corporate holds per share. A studying below 1.0 leaves the agency valued below its own Bitcoin.

The degree sits close to the 0.7 trough from May 2022, the final time its mNAV collapsed this far. Jiang treats that because the sign, not the timer.

In that cycle, the mNAV bottomed in May with Bitcoin close to $31,000. The worth then stored sliding to about $15,650 by late November, because the FTX collapse deepened the rout. That hole ran about six months.

“But notice that the mNAV low isn’t the BTC worth low,” he added.

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His broader timing comes from a four-year cycle model, one he likens to a bouncing ball shedding top. It factors to a backside round October 31, 2026.

Jiang, who has mined via a number of halving cycles, is already quick and plans to purchase again close to the low.

Hayes Points to a Similar Bitcoin Bottom

Arthur Hayes reached an analogous vacation spot by a unique route. The BitMEX co-founder laid out the decision to content material creator EllioTrades on June 12. He sees the Bitcoin bottom near $40,000 inside six months.

The wager is tactical, not structural. Hayes holds put spreads as a hedge at the same time as his core positions keep closely lengthy. His year-end goal nonetheless runs above $200,000.

Bitcoin lately traded close to $61,345, down 2.3% in 24 hours. Jiang’s vary sits roughly 30% under that degree, whereas Hayes’ $40,000 ground implies a drop nearer to 35%.

Whether mNAV leads worth by six months as soon as extra is the actual take a look at, and it’ll form Bitcoin price forecasts heading into late 2026.

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