Throughout 2022, the correlation has remained strongly positive between stocks and bitcoin. But it recently collapsed with the crisis caused by FTX. Most players in the crypto sector are of the opinion that this crisis will shake the financial markets for quite a while. They believe that all cryptos, including bitcoin (BTC), are going to be affected by the FTX case. Lately, the former CEO of BitMEX, who is also a co-founder of the exchange, has been bearish when it comes to the Bitcoin market.
Arthur Hayes would be ready to acquire BTC tokens at $10,000
This November 16 on Twitter, the former CEO of BitMEX suggested that the price of bitcoin (BTC) could drop to $10,000. He added that he feels ready to buy the crypto at this price. “Are you all ready for this? BTC at $10,000 my fiat is readyexclaimed Arthur Hayes. The BitMEX co-founder predicted on November 8 that bitcoin (BTC) would trade at $15,000. He made this claim when the price of the cryptocurrency was above $19,000.
Arthur Hayes’ prediction has instead come true, as BTC fell to $15,623 on November 9. This is the lowest level the crypto has reached since November 2020. That said, given the current situation, the price of BTC may end up registering a decline to $10,000. But, in the meantime, the crypto is currently trading around $16,500.
Other crypto industry leaders are sounding the alarm
Recently, financial research firm Fundstrat predicted that the price of BTC could jump into four digits. It thus envisages a fall of more than 85% compared to the record high. Such a drop would be in line with Bitcoin’s past falls.
Moreover, many players in the crypto industry believe that it is necessary prepare for a great collapse. For example, Binance CEO Changpeng Zhao indicated that we may soon see the crypto version of the 2008 financial crisis.
In 2018, when he was still the CEO of the exchange BitMEX, Arthur Hayes predicted that the price of bitcoin (BTC) would reach $50,000 before the end of the year. 4 years later, the former CEO of BitMEX is quite bearish and he predicts a drop to $10,000 for the flagship crypto.
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