Former BitMEX CEO Warns: These 2 Coins Are On The Verge Of An Epic Crash

Former BitMEX CEO Warns: These 2 Coins Are On The Verge Of An Epic Crash
  • Former BitMEX CEO Arthur Hayes, who previously predicted the collapse of Bitcoin and Ethereum, Bitcoin (BTC) and Ethereum (ETH) warns investors that it is on the verge of a catastrophic collapse.

A closely followed crypto capitalist and founder of the scandalous Bitmex derivatives exchange are both crypto market He spoke in the wake of the “red Monday” affecting both traditional and traditional markets, and issued a warning that these cryptocurrencies are on the verge of another major sell-off, even though Bitcoin (BTC) and Ethereum (ETH) are already experiencing massive declines from their all-time highs.

Former BitMEX CEO Warns: These 2 Coins Are On The Verge Of An Epic Crash

Former BitMEX CEO Arthur Hayes launches decentralized finance (DeFi) analytics platform Parsec using says it closely monitors the data on the chain.

According to Hayes, on this platform Wrapped Bitcoin and Ethereum related on-chain data and listed & unlisted option flows, borrowerIt shows that most of the liquidations due to the failure of s/borrowers to meet their commitments took place in the aftermath of this week’s crypto devastation.

DeFi gamers crypto market Mentioning that it poses some threat to the company, Hayes has his eye to reveal the boundary between dealers or market makers. in option streams (option order flow, monitoring of sells, calls and stock activity by institutional investors).

As for the behavior of the market, Hayes believes that $20,000 for BTC and $1,000 for ETH are currently the most important price levels, as these prevent the market from being attacked by massive selling pressure. As mentioned earlier, put options usage priceIf the price approaches the same price point, dealers will have to sell their spot holdings, which will put pressure on spot BTC holdings. The same rule will apply to Ethereum traders.

In options trading usage priceis the price level at which the underlying assets of the contract, in this case BTC and ETH, can be sold. According to Hayes, the closer we get to $20,000 and $1,000 ETH for BTC, the more market makers will have to sell their Bitcoin and Ethereum.

crypto market

If these levels are exceeded, the crypto entrepreneur warns that major players will have to liquidate their BTC and ETH holdings on the open market.

“As far as charts are concerned, Lord Satoshi you better pull out your prayer book and hope the lord has mercy on the spirit of the crypto markets. Because if these levels deteriorate, you may also want to shut down your computer as your graphics will be useless for a while…

If these levels of $20,000 BTC and $1,000 ETH are breached, we can expect massive selling pressure in the spot markets as dealers hedge their positions. We can also expect that some over-the-counter sellers will not be able to properly hedge and go bankrupt.

At the time of writing, Bitcoin is changing hands at $21,265, while Ethereum is at $1,117.

You can check the price movements here.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.

Soruce :

Leave a comment

SMM Panel PDF Kitap indir