CEO of crypto currency exchange BitMEX, Arthur Hayes criticized Ethereum, calling the coin sitkina and predicting its collapse below $100.
He noted that the ETH was able to reach its maximum thanks to the popularity of ICO in 2017. At this time, venture capitalists began to invest in the industry. Now, when the market falls, they arrange the sale, accelerating the collapse.
“A lot of venture investors decide to sell at one time. If you don’t sell, and the market will continue to fall, you will lose your job. So all sell at the same time, but who buys all this shit? Ordinary investors simply can not, their funds are not comparable with the money of institutional investors. So the market is falling, first the price of tokens, and then on the ETH”.
On this basis, Hayes believes that Ethereum could fall below $100, that would mean its return to the values of spring 2017.
As for bitcoin, Hayes sees a minimum drop point of $5000. This is possible provided that from the us regulators for a long time will not be positive news.
Recall that a few days ago Ethereum fell to $255, although the week before was trading at around $370.