Arthur Hayes Predicts More Market Carnage: Brace for 'Wave Two'
CryptoNewsTerminal Staff05 Aug, 2024
Arthur Hayes Predicts More Market Carnage: Brace for 'Wave Two'
Arthur Hayes, co-founder of BitMEX, warns that the bear market is just getting started. In a recent Substack blog post, Hayes said that the market turmoil that has gripped cryptocurrencies since May 5 is only the "first wave." He expects a "second wave" of selling to hit the market as "TradFi" companies that have been propped up by leverage start to fail. Hayes believes that the market will need to see "more pain" before any relief rally can begin. He advises investors to "enjoy the weekend" while they can, because the "war" is far from over.
