previously wrote we talk about former CEO of crypto exchange BitMEX, Arthur Hayes. He stated that the principle of the next bull market is set now that all the ‘bad’ parts of the previous one disappear. He thinks the ‘seed season’ is now starting and that this is the foundation for the next big trend. At the same time, he thinks another big crash is coming, and he has a surprisingly clear step-by-step plan†
NAnother crypto crash?
The market has already fallen hard, of course, but Hayes thinks the bottom hasn’t been reached yet. According to him, the weekend of July 4 is the start of another dump here. The Federal Reserve has passed its latest rate hike by June 30 and will begin selling assets.
Risky assets are falling in price due to more difficult conditions, at the same time funds need cash to Any margin calls (debts) and to be able to return investors their money. As a fund you don’t just invest money, you have obligations to your customers.
The problem with cryptocurrencies is exactly what made it soar so hard when it was in an uptrend: the network effect. That works both ways. As soon as one investor sells, the other is more likely to do so.
Permabulls need to sell bitcoin
Twitter is full of people who say the biggest nonsense, but if you know where to look there are beautiful gems of tips in between. DAO member and podcaster Santiago Santos appears to have said something about a month ago is still a good tip.
He explains on the Empire podcast that he is waiting for a permabull who is forced to sell – a forced seller† That’s real pain, because such a salesperson doesn’t sell out of fear. Such a person sells because he or she is otherwise bankrupt. Celsius and Three Arrows Capital definitely fall under that group, but are they the only companies? For example, you could also label Tether and Tron as shadowy. That makes them vulnerable by definition.
Prescient advice from @santiagoroel six weeks ago:
I’m waiting for true pain…
For a perma bull to become a forced seller.
— Yano 🟪 (@JasonYanowitz) June 15, 2022