Hayes expects the Nasdaq 100 to experience a significant 30% to 50% drawdown and leading crypto assets like bitcoin and ethereum to drop in value too, amid a great deal of stock market carnage.
central bank is “expected to deliver two back-to-back half-point interest rate hikes in May and June,” according to a Reuters poll.
The last blog post on March 16 explained that Hayes believes the end of the “Petro Dollar / Euro Dollar monetary system” is drawing closer.
“But let’s be clear – the Fed isn’t planning to grow its balance sheet again any time soon, meaning equities ain’t going any higher,” the Bitmex co-founder added.
The crypto derivatives exchange co-founder highlights that there are “many crypto market pundits who believe the worst is over” but he believes they “ignore the inconvenient truth.” While Hayes predicts the NDX will slide by 30% or even 50% lower, he predicts bitcoin , to slide to $2,500 per unit.
Even though some of these coins are already down 75% from their all-time high, I don’t believe even they can escape the coming crypto carnage.
“I will be wrong if the correlation between bitcoin / ether and NDX starts dropping before a crash in risk asset markets,” Hayes’s blog post concludes.
Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
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