"Bitcoin Founder Predicts 30% Drop, Unveils Top 2 Altcoins for Investment Amid Market Selloff"
Originally Published 1 year ago — by Bitcoinist
Former BitMEX CEO Arthur Hayes predicts a 30% correction for Bitcoin, expecting it to drop to $33,600 and form support between $30,000 and $35,000. He plans to invest in Solana and WIF once Bitcoin hits this bottom, and believes that the cessation of the Bank Term Funding Program (BTFP) could cause a mini-financial crisis, leading to a rate cut, tapering of Quantitative tightening, and a resumption of money printing via quantitative easing (QE). Hayes dismisses the argument that Grayscale’s GBTC outflows were responsible for Bitcoin’s recent decline, citing the inflows into newly listed Spot Bitcoin ETFs.