Altcoins will crash up to 90% if the cryptoma market continues
Altcoins will crash up to 90% if the cryptoma market continues
- The founder and former CEO of the Bitmex exchange believes that old coins could suffer more losses if the cryptoma market crashes.
- The most important deterrent of the market, according to Hayes, is the restrictive commitment of the Fed.
The former Bitmex CEO Arthur Hayes believes that a drop in prices on the cryptoma market will affect other old coins more than Bitcoin (BTC) or even Ethereum (ETH). In a medium contribution, Hayes pointed out that old coins could crash up to 90 percent of their current trading positions.
If I think Bitcoin could act in a time horizon of three to six months under $ 30,000 and ether under $ 2,000, I will throw all my SH*TCOININs ... These shitcoins could fall by 75% to 90%.
In addition, the contested crypto-coryphaee expressed itself skeptically compared to the so-called "diamond hands" in crypto. These are natural or legal persons who stick to assets and wait for them to gain value despite potential risks and losses. He argues the market conditions, institutional investors will not hesitate to give up their crypto inventory, to lose losses reduce. You do not believe in Lord Satoshi and do not stick to him. This dark future is possible because the US Federal Reserve focuses on the crypto industry, said Hayes. In his opinion, the commitment of the FED is the most important deterrent for the market for digital assets. He emphasized a positive correlation between the growth of the Fed balance and the price of Bitcoin. And now that the central bank persists the bond purchase, the "money printer" case loses the ground. The concerns about money printers rose due to the incessant printing of the dollar by the US government and the resulting inflation. If M2 reaches 0% in a short time-and possibly even becomes negative-is the natural conclusion that Bitcoin (without asymptotic growth of the number of users or transactions that are processed via the network) will probably also be much lower. m2, according to Investopedia, is an indicator of the money supply and future inflation. Now the central banks around the world are determined to combat current inflation, called Haye's "public enemy №1". "The villagers have woken up because the costs for meat, vegetables, taxi rides, rents and other vital things rise faster than their wages," he wrote. The strict approach of the Fed could decrease compared to crypto if the consumer price index (CPI) falls below 2 percent, says Hayes. However, he warns that this will probably not happen. The CPI rose by 6.8 percent in November 2021, according to the US Bureau of Labor Statistics. Hayes also believes that the central bank could continue its measures if inflation on the priority list before the parliamentary elections in the USA in November 2022.
currently red beams continue to dominate the cryptoma market after a broad price correction. The current protests in Kazakhstan also contributed to this decline. : Bitcoin-Hashrates fell by 13%, BTC falls at $ 43,000 $ 43,000 due to political unrest in Kazakhstan
cryptomarkt and the fed
what now?
Source: Crypto-news-flash.com
Kommentare (0)