- Arthur Hayes predicts that some digital assets could help FTX from its fall.
- He said that Bitcoin, Ethereum, and Solana would surge, helping FTX.
- Hayes also opined about the possibility of more plunges in the crypto space.
Arthur Hayes, the co-founder of BitMEX, tweeted his predictions regarding the digital assets that could save FTX from its fall, referring to the cryptocurrencies such as Solana, Bitcoin, and Ethereum. According to him, Bitcoin would surge from $10k to $15k, Ethereum from $750 to $1, and Solana to $3.
Hayes commented that the crypto diamond hands are waiting for lower levels and will step in to further increase their stacks.
8/#Crypto OG diamond hands are waiting for lower levels and will step in to further increase their stacks. $BTC = $10k – $15k$ETH = $750 – $1k$SOL = $3— Arthur Hayes (@CryptoHayes) November 9, 2022
He added that the crypto market would slip into another grave failure if the US CPI data that is expected to be released on November 10 is unexpectedly high, pushing both the digital and traditional markets into huge losses.
Notably, he commented on the possibility of the long-lasting procedures of FTX recovery that could be carried out only in a bankruptcy court. He added that Mt. Gox hadn’t resolved its issues even after a decade.
In his opinion, there are not any easy ways by which the problem could be solved: “No more taking a credit card from so-called crypto prime brokers. No more polite phone calls to large traders to request a margin top up.”
Furthermore, he opined that the investors and traders affected by the FTX bankruptcy would “reduce the number of trading venues” and lead to another significant plunge. According to his views, there are possibilities for lower levels of values in cryptocurrencies, giving space to institutional investors and others who are willing to lower their current positions or to trade at two-year low prices.
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