Former Bitmex CEO Arthur Hayes is cautioning about a potential 30% correction in the bitcoin market. “The washout could be even more severe if the slate of U.S.-listed spot bitcoin ETFs has already commenced trading,” he warned. “I could easily see a 30% to 40% correction due to a dollar liquidity rug pull.”
Ex-Bitmex Chief’s Bitcoin Predictions
Former Bitmex CEO Arthur Hayes outlined his bitcoin price forecast in a Medium post published last week. He also discussed the impact of spot bitcoin exchange-traded funds (ETFs) on the price of bitcoin. The U.S. Securities and Exchange Commission (SEC) is expected to approve multiple spot bitcoin ETFs early next week.
Noting that he expects three variables to “collide with each other in March,” the former Bitmex boss predicts:
I expect bitcoin to experience a healthy 20% to 30% correction from whatever level it has attained by early March. The washout could be even more severe if the slate of U.S.-listed spot bitcoin ETFs has alr
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