357
144 shares, 357 points

Arthur Hayes, former CEO of crypto derivatives exchange BitMEX, warned investors that all crypto assets except Bitcoin (BTC) and the leading altcoin Ethereum (ETH) could see devastating losses. Continue reading Kriptokoin.com for details.

“I will dispose of cryptos other than leading crypto and leading altcoin”

Arthur Hayes, in a new article, states that if BTC and ETH fall below $30,000 and $2,000 respectively in the coming months, says he will consider selling all other crypto assets as they may see staggering losses:

If I believe Bitcoin will trade below $30,000 and Ether below $2,000 in a three to six month timeframe, I will trash all my sh*tcoins . This is because Bitcoin and Ether are the highest-quality cryptocurrencies and have fallen less than any of their yet-to-be-certified rivals.

According to the famous CEO, any private project using Bitcoin or the leading altcoin Ethereum Blockchain will also experience a gravity higher than 9.8 m/s. Arthur Hayes states that such altcoin projects can drop from 75% to 90% in a true crypto crash. Arthur Hayes also says that if BTC and ETH correct below the previous bull market highs, he will begin to question the value of the two biggest cryptoassets:

If Bitcoin trades at $20,000 or below, or Ethereum trades at $1,400 or below, these cryptos will I’m starting to suspect they’ll be able to maintain their value in terms of energy. These two levels were previous all-time highs during the 2017 bull market. But this is the fiat money price. If oil turns negative again, then who cares if benchmark cryptos make less fiat money?

BTC is trading at $42,086 at the time of writing, 20.98% off its 30-day peak of $50,830. ETH, on the other hand, is trading at $3,170, down 35% from its 30-day high of $4,179.


Like it? Share with your friends!

357
144 shares, 357 points

What's Your Reaction?

hate hate
613
hate
confused confused
122
confused
fail fail
981
fail
fun fun
858
fun
geeky geeky
736
geeky
love love
368
love
lol lol
490
lol
omg omg
122
omg
win win
981
win
Michael Lewis

Emperor

0 Comments

Your email address will not be published. Required fields are marked *

Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format