ethereum 6293700 1920 768x509 1 Crypto Industry Veteran Explains When He Will Resume Buying $BTC and $ETH

Crypto Industry Veteran Explains When He Will Resume Buying $BTC and $ETH

– In a blog post published on May 12, Arthur Hayes, Co-Founder and former CEO of crypto derivatives exchange BitMEX, said that the current state of the crypto market is such that he would feel comfortable buying more Bitcoin and Ethereum at levels of $20,000 and $1,300 respectively.

– Hayes said that the recent market plunge was accentuated by the forced selling of all Luna Foundation Bitcoin in order to defend the UST:USD peg, and that this shows how all pegs eventually fail in the face of the entropy of the universe.

– Hayes also said that US CPI for April coming in at 8.3% YoY is still too hot to handle, and that the Fed in firefighter mode can’t abandon their quixotic quest against inflation, meaning that a June 50bps hike is the expectation, which will continue the destruction of long-duration risky assets.

– Therefore, Hayes is a buyer at Bitcoin $20,000 and Ether $1,300, as these levels roughly correspond to the all-time highs of each asset during the 2017/18 bull market.

 

 

ethereum 6293700 1920 Crypto Industry Veteran Explains When He Will Resume Buying $BTC and $ETH
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