Arthur Hayes Says ‘’Mini Financial Crisis’’ May Send Bitcoin To $30K, Plans To “Load Up On Solana And Dogwifhat”

BitMEX co-founder Arthur Hayes said that a mini financial crisis and supercharged inflation risks sending the Bitcoin price plunging to as low as $30K, and that he’s preparing to ”load up” on Solana (SOL) and Dogwifhat (WIF).

While the crypto market expects price gains after likely Fed rate cuts in March, Hayes predicts a mini-financial crisis is coming.

“Once Bitcoin drops below $35,000, I will start bottom fishing,” he said in his latest blog post, headlined “Yellen or Talking.” “I will load up on Solana and Dogwifhat ($WIF).”

The first quarter will see the Bitcoin price encounter multiple obstacles, among them being the conflict in the Red Sea between the US and Houthi rebels that will increase shipping costs, fuelling a ”surge in inflation in the third and fourth quarter of this year, ” he said.

"Yellen or Talkin'?" is an essay on why I think the $BTC slump is pointing to a TradFi mini-financial crisis, and it will bottom in the $30k to $35k range.https://t.co/uwiLscKwzW pic.twitter.com/zRpUcE6TIz

— Arthur Hayes (@CryptoHayes) January 23, 2024

Looming Crisis, Not Grayscale Behind the Bitcoin Dip

Hayes says the theory that it’s Grayscale outflows that are causing the Bitcoin dip is “bogus” as net inflows into new spot Bitcoin exchange-traded fund (ETF) products stand at over $800 million.

Bitcoin is also anticipating that the US’s Bank Term Funding Program (BTFP), used to support banks after the March 2023 crisis that saw several banks collapse, will not be renewed, Hayes said.

This tells me they are planning to not renew the BTFP and hope insolvent banks use the discount window. Watch this stealth money printing program. It remains to be seen if a bankrupt bank taps the window and their stock doesn’t get trashed as a result. pic.twitter.com/BbUKlV4rbX

— Arthur Hayes (@CryptoHayes) January 18, 2024

“The cessation of the BTFP will cause a mini-financial crisis and force the Fed to stop Talkin’ and start Yellen with a rate cut, tapering of QT, and/or a resumption of money printing via quantitative easing (QE),” he said. “Bitcoin’s price action tells me I’m right.”

What might be a mild increase in the rate of inflation due to increased shipping costs could be supercharged by rate cuts and the resumption of QE, Hayes added. “The market doesn’t appreciate this fact yet, but Bitcoin does,” he said.

Arthur Hayes Ready To ”Load Up” On SOL, WIF

Hayes says that Bitcoin falling to below the $35,000 mark would be a good entry point for investors looking to buy the dip. He added that he’ll also ”load up” on SOL and WIF.

“Bonk is the last cycle’s doggy money, and if it ain’t Wif Hat, it ain’t shit,” he said.

Meme coin presales are also attracting a lot of attention recently, with Meme Kombat (MK) and Sponge V2 ($SPONGEV2) often being ranked among the best tokens for exponential growth.

Also Read

• Bitcoin Price Prediction: As Grayscale Outflows Top $1 Billion A Day, Inflows To This BTC Derivative Presale Are Surging Towards $10 Million
• Bitcoin Roars Again In The NFT Market – Flips Solana In NFT Trading Sales Volume
• Donald Trump Holds $1 Million In TRUMP Meme Coin After 15,000% Gain

Most Searched Crypto Launch - Pepe Unchained

Rating

• Layer 2 Meme Coin Ecosystem
• Featured in Cointelegraph
• SolidProof & Coinsult Audited
• Staking Rewards - pepeunchained.com
• $10+ Million Raised at ICO - Ends Soon

Learn More