Former BitMEX CEO predicted crypto market collapse by summer 2022

Arthur Hayes believes that bitcoin will drop to $30 000 and Ethereum to $2 500

11.04.2022 - 07:40

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What’s new? The former CEO of the BitMEX exchange, Arthur Hayes, wrote on his blog that bitcoin and Ethereum could fall significantly in price by the summer of 2022. He predicted a drop in the BTC rate to $30 000 and ETH to $2 500. Hayes stated that his guesses are “a gut feeling” and also admitted that he has started buying “a number of altcoins.”

Arthur Hayes’s blog

What else did Hayes add? Former BitMEX CEO attributes the decline in the cryptocurrency exchange rate to rising nominal interest rates, deteriorating global fiat liquidity conditions, and falling global economic growth. Hayes also believes that in this situation, the Fed and major central banks should tighten regulatory conditions, rather than loosen them, to combat inflation.

Earlier Bank of America’s analyst predicted investors’ abandoning stocks and bonds in favor of cryptocurrencies. He also predicts a coming “recession shock” in the United States due to the Fed’s actions.

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