Arthur Hayes Co-founder and former CEO of Bitmex, mentions that the crypto market is currently in an uncertain cycle. The price of the main coin is also predicted to fall.
According to him, the crypto market ecosystem, which seems to follow technology stocks, admits that its value will drop even significantly in the coming months.
He also disagreed with the opinion of experts who considered the crypto market to have passed a critical period. According to him, in a few months, the crypto market will be volatile again.
Hayes predicts the Nasdaq will drop 30 percent or even 50 percent lower, he also predicts Bitcoin (BTC) will drop to USD 30,000 around Rp 431.5 million per coin.
It also predicts the second-largest cryptocurrency, Ethereum (ETH), to drop to USD 2,500 per unit. The figures Hayes came up with came from what he believed and not from a technical analysis point of view.
“There’s not much science to these numbers other than a hunch,” he wrote.
“The annoying part is that there are a number of Altcoins that I started collecting because the prices were quite attractive. Even though some of these coins are already down 75 percent from their all-time highs, I don’t believe even they can escape the impending roadblocks,” he added.