Arthur Hayes, CEO of BitMEX, a popular crypto money platform, said the hard fall in Ethereum, the second most valuable cryptographic currency on the market, will continue. According to Hayes, this decline will drag the Ethereum to under 100 dollars.
All the crypto money, especially Bitcoin, are recovered in the month that we have passed since the beginning of the turbulent process since the beginning of 2018. This recovery did not last as long as expected. Although the determined resistance in Bitcoin still continues, Ethereum has suffered a very serious loss. Russian originated crypto money, falling back to 250 dollars on August 15, worries investors. As of August 16 (today), the odds of Ethereum recovering above $ 290 are not realistic for an expert.
BitMEX CEO Arthur Hayes argued that the decline in Ethereum in the new summer will continue to under $ 100 and reach double-digit numbers. Although his hostility to Ethereum is a well-known subject, his last claims seem to have attracted attention because he is in decline. Hayes said that Ethereum will eventually be delivered to the bear market, stressing that the crypto money is like a virus constantly under pressure by ICOs. (Actually, he wears the nickname “Shitcoin”.)
Ethereum lost 22% in the last week. Some analysts say the decline is a result of ICO-financed corporate ventures. Hayes said, “Most of the investors with ICO will decide to sell Ethereum on their hands at the same time. If you do not sell now, the market will continue to fall, and you will be lost. “
Hayes said, “I do not know what the point of fall will be, but it will be obvious according to the capitulations of the past. There are those who believe that a sustainable ICO economy will exist. Ethereum will go back to the levels it sees in 2017 and will go under $ 100. “