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BitMEX Co-founder Says BTC to Slump to $30K Based on Correlation with Stocks 

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The co-founder of BitMEX, Arthur Hayes, says that bitcoin could drop as low as $30,000 by June due to rising interest rates and other macroeconomic factors in stocks.

Source: CryptoHayes.Medium 

BTCUSD is up +2.13%

Hayes observes that bitcoin has become closely correlated to the extensive technology stocks becoming vulnerable to the falling economic growth and declining global fiat liquidity.

He says that he plans to buy the bitcoin crash in June 2022 and ether, which he sees reaching $2,500 in the same period.

Hayes expects the stock market to be hit hard by the economic and political shocks, including Russian aggression and the accompanying sanctions.

Arthur Hayes and Benjamin Delo, both BitMex co-founders, pleaded guilty to not enhancing a money-laundering program in the firm, where each was fined $10 million.

The US Federal Reserve plans to raise the interest rate to curb high inflation rates and pull up on quantitative easing, all projected to further affect stocks.

 

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