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Crypto Insider Issues Stark Warning for Bitcoin, Ethereum, Altcoins and Stocks, Says Wide-Scale Carnage Incoming

The co-founder of crypto trade platform BitMEX thinks Bitcoin (BTC), Ethereum (ETH), altcoins and the inventory market are hurtling towards a significant price crash.

In a brand new essay, Arthur Hayes says the Federal Reserve and different central banks around the globe are combating inflation by tightening financial circumstances.

According to Hayes, the hawkish stance of the central banks around the globe doesn’t bode properly for the Nasdaq 100 (NDX), which is very correlated to Bitcoin and Ethereum.

“Global growth will decline on higher commodity prices driven by the continuation and possible escalation of the Russia/Ukraine war. This, in absence of accommodative central banks, will also weigh negatively on stonks [stocks]. Ipso facto, NDX will fall and so will crypto.”

Source: Arthur Hayes/Medium

Hayes predicts that Bitcoin will crash to $30,000 and Ethereum will plummet to $2,500 by the top of the second quarter of 2022.

“There isn’t much science to these numbers other than a gut feeling. The annoying part is that there are a number of altcoins I have begun to accumulate because the prices are quite attractive. Even though some of these coins are already down 75% from their all-time high, I don’t believe even they can escape the coming crypto carnage. As such, I am buying crash June 2022 puts on both Bitcoin and Ether.”

In February, Hayes and Benjamin Delo, one other BitMEX co-founder, pled responsible to violating the Bank Secrecy Act by willfully failing to determine anti-money laundering protocols on their trade.

Both Hayes and Delo agreed to pay $10 million fines, based on the Department of Justice.

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Featured Image: Shutterstock/jamesteohart

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