At the time of writing, Bitcoin trades at $40,500 with a 1% loss in the last 24-hours and a 13% loss in the last week.
As NewsBTC has been reporting, Hayes believes the current financial system supported by the “Petrodollar” has ended.
This will lead to a bloody financial market coming May when the FED will begin its tightening program.
Before that happens, the NDX and the traditional market will be pushed into the red with potential drawdowns of 30% to 50%.
As evidence of this upcoming bloodbath, Hayes claims the NDX on its one-year chart demonstrates potential weakness.
As such, they will lead equities lower as we head into the downturn, and lead equities higher as we work our way out of it.
In the long run, Bitcoin will hit $1 million per coin and Ethereum over $10,000, Hayes previously stated.
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