Former Bitmex CEO‘ of Arthur Hayes in his latest article cryptocurrency shared their expectations for the market.
bitcoin of $30,000 Ethereum Saying “my finger will be on the alert for buying and that excites me” if it drops below $2000, the CEO shared his own expectations.
Thinking that the bottom has not yet been found in Bitcoin, the CEO expressed the support levels he expects for Bitcoin and Ethereum with the following words.
“$28500 in Bitcoin
$1700 in Ethereum
I don’t believe in a bottom until these levels are retested. If these levels can be kept that will be great. If we see that the supports are broken, I think there will be a mega liquidation candle in the range of $ 20,000 to $ 28500 for Bitcoin and $ 1300 to $ 1700 for Ethereum.
I don’t even want to think about Bitcoin’s and Ethereum’s previous ATHs $20,000 and $1400 broken.
It is important not to forget this. Maybe Bitcoin will never go below $30,000 again or Ethereum will never test $2000 anymore. The market never provides a perfect setup. The lack of a clear test of previous trend lows makes things a bit sensitive.
Remember that the marginal seller sets the price. If the corporate company holding a small amount of crypto in total gets hurt by bonds and stocks, it takes the stick and vomits without giving up. They haven’t started selling yet.
Note that you don’t crash if the correlational S&P 500 and the Nasdaq continue to drop.
Sell the rips, run the bottoms”
*Not Investment Advice.