Arthur Hayes Warns of a Massive Global Crash – Here’s His Bitcoin and Crypto Strategy
BitMEX founder and crypto veteran Arthur Hayes says there will be a certain point when he turns “super bullish” on the digital asset markets.
In a new interview on Crypto Banter, Hayes says that Bitcoin (BTC) and other risk assets will likely undergo a major correction before a true bull run occurs.
“I think Bitcoin hasn’t really escaped its correlation with global risk assets. It may have done quite well recently on this little bounce from below $16,000 to $24,000. But I think we’re in for a ‘correlation one’ moment. With I mean everything goes down massively together, Bitcoin included.
Do I think it will break the lows of the FTX saga? No. Can it break $20,000? Definitely. But I’m looking for another leg down in Bitcoin to correspond with general risk markets, and when that’s done, I’m super bullish on that area, even though everything else is going to be shaky, because I believe in the response of what money- and the tax authorities will do in another unpleasant situation. They hand out money to people and they want to print it.”
In a recent blog post, Hayes said that if Bitcoin and Ethereum (ETH) continue their recent rally from market lows, the rest of the markets could significantly outperform. According to the crypto billionaire, altcoins could go “vertical” on the back of a sustained BTC and ETH bull run.
“If Bitcoin and Ethereum continue to rally, there will definitely be a sh*tcoin vertical going bananas in the next few months…
“The key to sh*tcoining is to understand that they go up and down in waves. First, crypto reserves increase – that is, Bitcoin and Ethereum. The rally in these stalwarts eventually stops, and then prices drop a bit. At the same time, the shitcoin complex is staging an aggressive rally. Then sh*tcoins rediscover gravity and interest shifts back to Bitcoin and Ethereum.
And this staircase process continues until the secular bull market ends.”
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