Former BitMEX CEO CryptoHayes predicts 'coming crypto carnage' (via Timccopeland)
Former BitMEX CEO Arthur Hayes puts forward a bearish view for crypto in the short term.advertisement
The premise is based on the idea that if the Nasdaq 100 drops, it will drag down crypto with it. He puts forward a range of charts showing the correlation between traditional markets and crypto to back up this suggestion. The second argument is that falling interest rates tend to support the Nasdaq 100, while the world is currently seeing higher interest rates in response to inflation.
Put together, he’s bearish in the short term. Hayes estimates that bitcoin could go as low as $30,000 before the end of June, with ether falling to $2,500.
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