Main navigation

Arthur Hayes Expecting More Forced Selling

Mon, 20/06/2022 - 8:22
Arthur Hayes Expecting More Forced Selling
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Former BitMEX CEO Arthur Hayes has warned cryptocurrency investors that there might be more forced selling in the short term.

Alluding to a famous quote from legendary investor Warren Buffett, Hayes claims that the market is currently in the process of figuring out who is swimming naked.

The Oracle of Omaha meant that the risks and vulnerabilities of specific companies are usually exposed during a tide-going-out event.

This nugget of wisdom from Buffett is extremely relevant during the ongoing cryptocurrency market crisis, with major players such as Celsius and Three Arrows Capital unraveling at a rapid pace. At this point, more industry heavyweights may end up without bathing suits.

As noted by Hayes, Canada's Purpose Bitcoin ETF liquidated 24,500 Bitcoins on Friday, which represented roughly half of its total holdings.


Circle’s USDC Flips Tether’s USDT in Daily Transactions on Ethereum
 The price of Bitcoin plunged all the way to $17,600 on Saturday, reaching its lowest level since early December 2020. Hayes believes that the brutal sell-off was caused by a forced seller triggering a big cluster of stop-loss orders.

While the price of the largest cryptocurrency has since recovered to $20,629 on the Bitstamp exchange, Bitcoin bulls might not be out of the woods just yet. Due to poor risk management by cryptocurrency lenders and "generous" lending terms, Hayes is not ruling out more forced selling.

As reported by U.Today, the former BitMEX boss recently predicted that altcoins could end up casually dropping another 50% in the coming weeks.

Solana, Polkadot and other major altcoins are already down nearly 90% from their record peaks amid an excruciating bear market.


Latest Press Releases

Sui Recognized as 2024 Blockchain Solution of the Year at AIBC Eurasia Awards
ElmonX Unveils ‘The Scream’ NFTs by Edvard Munch For The First Time Ever
World's First Bitcoin Layer 2 Conference to Unite East & West in Hong Kong, April 2024
Is Bitcoin Mining Legal? Regions in the World Where Mining Is Legally Permissible
Zircuit, New ZK-Rollup Focused on Security, Launches Staking Program
AI Analysis Launches The AIA Mastercard – The Future of Crypto-Fiat Transactions
VAP Group hosts the majestic Global Blockchain Show 2024 in Dubai
Digital Transformation Week Is Returning to Santa Clara This Summer
Arab Financial Services (AFS) Enter Strategic Alliance with Xpence to Innovate SME Financial Management in Bahrain
Breaking Records: UXLINK Attracts 978,000 New Web3 Wallet Registration with $78,000,000 Deposit asset from February 01 to February 22, 2024
What To Expect from The Bitcoin Halving in April 2024
Testnet Launch for dWallet Network - Composable Modular Signature Network
ETH Denver Top Builders Base by Supermoon, Cointelegraph, NDC, Horizen, & Conflux
Citrea, Bitcoin’s First ZK Rollup, Announces $2.7M Seed Funding
Chromia’s Flagship Game ‘My Neighbor Alice’ Unveils 2024 Roadmap
First-Ever ICO on Bitcoin Blockchain: $3.1M Raised in Under 6 Days
CoinList to Host the MASA Token Public Sale as it Unleashes the World’s Personal Data Network
Sui Reveals Initial Wave of Speakers, Famed Venue for First Annual Basecamp Event
Vitalik Buterin Comes to Taiwan as Keynote Speaker at ETHTaipei 2024
Elevating Europe’s Crypto Hub: Next Block Expo Returns to Poland
Our social media
There's a lot to see there, too

Popular articles