Arthur Hayes, the founder of BitMax has cried out to investors not to buy crypto assets now, but they should wait for June’s dip.

Nasdaq 100 Will Drag Crypto Assets Down

Since the invention of blockchain technology, the crypto market has never been as volatile as it was at the beginning of 2022. The crypto market witnessed a general dip in all assets, and the bearish movement, which lasted for months, ended with a March rally.

Since the dip, the overall cryptocurrency market cap has stayed under the $2 trillion level, and the trading chart displays a familiar downtrend which suggests that crypto may dip again.

Following the market trend, the CEO of BitMEX, Arthur Hayes, opined that the worst is yet to come in the crypto market.

Recently, in his written article, ‘The Q-Trap’, Hayes explained how there had been some noticeable changes in macroeconomics trends worldwide. He added that the Nasdaq 100 (NDX) index is becoming weaker and also explained the effect it is having on BTC and the cryptocurrency market in general.

With Nasdaq’s technical chart, he explained that Nasdaq recorded a high of $16567.50 and a low of 13046.64 on Dec. 27, last year. He continued that according to Fibonacci Retracement analyses, Nasdaq 100 is yet to rise above the retracement level of 61.8%. Afterwards, it has tried several times to break through the resistance line, but to no avail; instead, it has been moving downtrend.

He added that NDX could drop below its current strong level to 10,000 or even lower. He also commented that the Central banks are actively working with all hands on deck to tame the inflation beast, and now is not the time for them to back down from containing its quantity.

Crypto Will Crash Again In 2022

According to Hayes’ analysis, cryptocurrency will dip again by June massively. He further explained that Nasdaq 100 has a strong relationship with cryptos like BTC & Eth, and the way NDX is moving on a downtrend, it is likely to crash, and when it does, it will bring crypto down with it. He said this would happen by June, and by then, he will acquire both BTC and ETH at their dip prices in large quantities.

He is also of the opinion that before the government reduced their pressure on the crypto market, both BTC and ETH would have dipped. Furthermore, he predicted that by June, which is two months away, BTC would drop to $30,000, and ETH would hit a $2,500 downtrend.

Nevertheless, he includes that he is currently holding some altcoins, which he believes have attractive values. He added that he is merely giving his own opinion, which could be wrong in the long run. In conclusion, he said he is just trying to encourage short-term trades, which he thinks will be very helpful for investors to edge over the highly volatile crypto market.  

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