BitMEX co-founder predicts Bitcoin and US stock market drop. Find out more about the potential price collapse and market trends.
Arthur Hayes, the co-founder of BitMEX, believes that even after a 24% correction from its all-time high, Bitcoin may still continue its downward trend. Hayes outlines a series of events that he thinks will force the Federal Reserve to tighten monetary policies and predicts that Bitcoin will decline alongside the US stock market, but these events will not be enough to prompt Federal Reserve intervention. According to Hayes, the collapse of traditional financial companies in the US will compel the Federal Reserve to end its quantitative tightening policy. He forecasts that the Bitcoin price floor will be around $70,000 and warns that significant fluctuations within this price range will occur due to the high volume of derivative contracts.
