{"id":481,"date":"2022-05-14T08:29:16","date_gmt":"2022-05-14T08:29:16","guid":{"rendered":"https:\/\/cryptoteambuild.com\/blog\/bitmexs-arthur-hayes-i-am-a-buyer-of-bitcoin-at-20k-and-ethereum-at-1300\/"},"modified":"2022-05-14T08:29:16","modified_gmt":"2022-05-14T08:29:16","slug":"bitmexs-arthur-hayes-i-am-a-buyer-of-bitcoin-at-20k-and-ethereum-at-1300","status":"publish","type":"post","link":"https:\/\/cryptoteambuild.com\/blog\/bitmexs-arthur-hayes-i-am-a-buyer-of-bitcoin-at-20k-and-ethereum-at-1300\/","title":{"rendered":"Bitmex\u2019s Arthur Hayes: I am a Buyer of Bitcoin at $20k and Ethereum at $1,300"},"content":{"rendered":"<div>\n<div>\n<p>Quick take: <\/p>\n<ul>\n<li>Bitmex Founder Arthur Hayes says that he is a buyer of Bitcoin at $20k and Ethereum at $1,300<\/li>\n<li>He cites that these values of Bitcoin and Ethereum make sense as they were previous all-time highs<\/li>\n<li>Mr. Hayes also cautions that the crypto-meltdown is not over, and the LUNA<\/li>\n<li>He warns that the Fed rate increments &lsquo;will continue the destruction of long-duration risky assets&rsquo;<\/li>\n<li>Arthur Hayes also admits that he did not expect Bitcoin to retest $30k as fast as it did<\/li>\n<\/ul>\n<p>The Founder and Former CEO of Bitmex, <a href=\"https:\/\/en.ethereumworldnews.com\/bitmexs-hayes-ethereum-to-10k-and-solana-to-200\/\" rel=\"noopener\" target=\"_blank\">Arthur Hayes<\/a>, has once again offered his valuable insights into the probable future of digital assets, including Bitcoin and Ethereum.<\/p>\n<p>In <a href=\"https:\/\/blog.bitmex.com\/luna-brothers-inc\/\" rel=\"nofollow noopener\" target=\"_blank\">a recent blog post<\/a>, Mr. Hayes stated that he will be a buyer of Bitcoin and $20k and Ethereum at $1,300 as these values correspond to previous all-time highs set in the 2017 to 2018 bull market.<\/p>\n<h2> This Bitcoin and Crypto Meltdown &lsquo;Ain&rsquo;t Over&rsquo;<\/h2>\n<p>His analysis is based upon the ongoing crypto-meltdown brought about by <a href=\"https:\/\/en.ethereumworldnews.com\/binance-ceo-luna-ust-crash\/\" rel=\"noopener\" target=\"_blank\">UST depegging<\/a> and the Luna Foundation possibly selling its entire Bitcoin holdings to attempt to save the stablecoin.<\/p>\n<p>According to Mr. Hayes, the market turmoil is not over, for <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoin-battles-to-hold-41k-as-the-fed-raises-interest-rates-by-0-25\/\" rel=\"noopener\" target=\"_blank\">the US Fed<\/a> will continue on its mission to increase interest rates to fight inflation. Consequently, assets deemed as risky, such as Bitcoin, will continue to suffer in the markets. He said: <\/p>\n<blockquote>\n<p>During a proper meltdown, the market seeks out those indiscriminate sellers and forces their hands. This week&rsquo;s plunge was accentuated by the forced selling of all Luna Foundation Bitcoin in order to defend the UST:USD peg.<\/p>\n<p>US CPI for April came in at 8.3% YoY, which is lower than the previous reading of 8.5% YoY. 8.3% is still too hot to handle, and the Fed in firefighter mode can&rsquo;t abandon their quixotic quest against inflation. A June 50bps hike is the expectation, and this will continue the destruction of long-duration risky assets.<\/p>\n<\/blockquote>\n<h2> Hayes Did Not Expect Bitcoin to Drop to $30k So Quickly<\/h2>\n<p>Furthermore, Arthur Hayes admitted that his <a href=\"https:\/\/blog.bitmex.com\/the-q-trap\/\" rel=\"nofollow noopener\" target=\"_blank\">earlier forecast<\/a> of Bitcoin at $30k and Ethereum at $2,500 happened faster than he expected. But the meltdown proved that the crypto markets could not handle the rising interest rates by <a href=\"https:\/\/en.ethereumworldnews.com\/the-problem-is-not-elon-or-bitcoin-it-is-the-fed-robert-kiyosaki\/\" rel=\"noopener\" target=\"_blank\">the US Fed<\/a>. He explained: <\/p>\n<blockquote>\n<p>I dutifully sold my Bitcoin $30,000 and Ether $2,500 June puts&hellip;<\/p>\n<p>I did not expect the market to trade through these levels so quickly. This meltdown happened less than one week after the Fed raised rates to the expected 50bps.<\/p>\n<p>Let me repeat the pertinent fact that the market&nbsp;EXPECTED&nbsp;a 50bps hike, and still puked afterwards.<\/p>\n<p>This market cannot handle rising nominal rates. It astounds me that anyone can believe long duration risk assets at all-time-high price multiples will not succumb to rising nominal rates.<\/p>\n<\/blockquote>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/bitmexs-arthur-hayes-i-am-a-buyer-of-bitcoin-at-20k-and-ethereum-at-1300\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Quick take: Bitmex Founder Arthur Hayes says that he is a buyer of Bitcoin at $20k and Ethereum at $1,300 He cites that these values of Bitcoin and Ethereum make sense as they were previous all-time highs Mr. Hayes also cautions that the crypto-meltdown is not over, and the LUNA He warns that the Fed rate increments &lsquo;will continue the destruction of long-duration risky assets&rsquo; Arthur Hayes also admits that he did not expect Bitcoin to retest $30k as fast as it did The Founder and Former CEO of Bitmex, Arthur Hayes, has once again offered his valuable insights into [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":482,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[184,183],"_links":{"self":[{"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/posts\/481"}],"collection":[{"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/comments?post=481"}],"version-history":[{"count":0,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/posts\/481\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/media\/482"}],"wp:attachment":[{"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/media?parent=481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/categories?post=481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/tags?post=481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}