Crypto Capitalist Arthur Hayes Forecasts Dramatic New Lows for Bitcoin (BTC) and Ethereum (ETH)
The co-founder of the crypto exchange platform BitMEX predicts Bitcoin (BTC) and Ethereum (ETH) will continue to fall in price in the wake of this week’s Terra (LUNA) collapse.
In a new blog post, Arthur Hayes says he’s gearing up to accumulate both crypto assets as he anticipates a drop to major cyclical lows.
According to Hayes, he’ll be a buyer of BTC at $20,000 and ETH at $1,300.
“These levels roughly correspond to the all-time highs of each asset during the 2017/18 bull market.”
Bitcoin is trading at $29,878 at time of writing. Ethereum is trading at $2,049.
Hayes says crypto capital markets need to determine who is overexposed to anything related to Terra.
“Any service offering above-average yields that is believed to have any exposure to this melodrama …
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