BitMEX CEO Arthur Hayes predicts an impactful Bitcoin crash coinciding with Donald Trump’s presidential inauguration, citing an expected massive sell-off in the cryptocurrency market.
On Wednesday, The Block reported that Hayes stated the downturn in the cryptocurrency market would result from the stark contrast between the high hopes pinned on the Trump administration and the actual reality.
Hayes emphasized that Trump lacks politically feasible options to implement the policy swiftly changes many crypto investors anticipate.
He argues that a large-scale liquidation in the crypto market can occur once the market realizes the limited timeframe—at most one year—for Trump to enact substantial changes before or after taking office.
Following Trump’s election victory last month, Bitcoin surged by over 50%, hitting an unprecedented high of $108,135. The cryptocurrency market continues to ride this wave of long-term price gains. Trump is scheduled to assume the presidency on January 20, 2025.
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