Former Bitmex Chief Predicts 30% BTC Correction — Warns Spot Bitcoin ETFs Could

[sirty143]

Former Bitmex Chief Predicts 30% BTC Correction — Warns Spot Bitcoin ETFs Could Make It worse

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... See more for yourself here.

Your opinion is greatly appreciated.

[Alcor]

Well, such a prediction may well become reality. However, I am not against this turn of events, since before the recent price increase I sold part of my ethereum at the wrong time and now I am just expecting such a significant correction in the market. The situation is pressed for time, since the Bitcoin halving is scheduled in about three months and in order to make a profit, we must have more cryptocurrency potential for growth.
In a few days, we will already know what the fate of the spot Bitcoin ETF will be and, accordingly, in which direction the likely market movement will go.

[bhadz]

The market usually needs to go through a correction before it moves on to the better ceiling. If Spot Bitcoin ETFs will be approved, that's like the market will go through the roof and not only on the ceiling. But going with these predictions coming from certain personalities, it is as if they always have a say that's helpful to the community and market. Whatever they say because of their achievements, positions or former positions, they seem to look like wisdom.

[Bobcrypto]

Many times Bitcoin had experience a huge pump, there is always a correlation, a dip or some form of a pull back. Currently, the ETF is positivity bringing a hype on the market and consequently, if the EFT is approve Bitcoin may hit $60k on the short term.

[trendcoin]

I visited the news source and went through the details, but I couldn't find any meaningful suggestion or a strong prediction. It seems like the former CEO was expressing his personal wishes rather than making a genuine statement. It's worth noting that a 30% correction is fairly common in the cryptocurrency market. However, talking about a 30% correction in May, when there was a halving, seems like an insincere post to me. It's more like a statement made by someone who intends to manipulate small investors. I believe it's better to ignore such negative thoughts until the halving.

[yhiaali3]

Of course, big personal statements like Arthur Hayes, former CEO of Bitmex, must be taken into consideration, because the man has great experience in the market and knows what he is saying.

The point made by Arthur Hayes is that the liquidity in the market will decrease a lot when the instant Bitcoin ETF starts, because everyone will not buy real bitcoin, but will buy bonds or stocks, and this will reduce the liquidity in the market significantly while the amounts of bitcoin remain the same.

In any case, even if these predictions are correct, I think it will be a very good opportunity for those who missed it to buy Bitcoin at cheap prices before the expected explosion.