Former BitMEX CEO Arthur Hayes updated his price forecast for Bitcoin in a blog post today and advised MicroStrategy to buy an altcoin project instead of BTC.
Arthur Hayes forecasts Bitcoin and Ethereum to drop
Hayes thinks the crypto economy will follow the same lines as US tech stocks and will depreciate significantly in the coming months. The co-founder of the crypto derivatives exchange stresses that there are “many crypto market experts who believe that the worst is over,” but believes they are “ignoring the inconvenient reality.” Hayes predicts that Bitcoin (BTC) will drop to $30,000 while he predicts traditional markets will decline.
Hayes also expects Ethereum (ETH) to drop to $2,500 per unit. The numbers Hayes found come from what he believes, not in terms of technical analysis. The blog also writes:
There isn’t much scientific in these numbers other than a gut feeling. The frustrating part is that there are a lot of altcoins that I’ve started accumulating because the prices are quite attractive. While some of these coins are down 75% from their all-time high, I don’t believe even they will be able to survive the impending crypto carnage. Therefore, I am buying the crash for both Bitcoin and Ethereum in June 2022.
Arthur Hayes: MicroStrategy should buy Ethereum instead of BTC
The BitMEX founder also touched on the current debate over PoS vs PoW, and gave MicroStrategy a message: more corporate firms will be able to buy Ethereum”. Part of the blog we quoted as Kriptokoin.com reads:
Additionally, Ethereum’s ESG compatibility makes it more attractive than fiat and other Tier 1 assets called ‘Ethereum destroyers’, which in turn will increase the value of Bitcoin in the future. will cause an increase. Is there anything MicroStrategy can do about it? I should point out that Michael Saylor is a rogue! Because he is using his company’s financial clout to buy Bitcoin in the bond market. This is not a terrible approach. The world’s largest decentralized computer runs on ether, a cryptocurrency. Ethereum will provide significant benefits after the merger. Ethereum must be borrowed and purchased by Saylor or another investor.
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