Arthur Hayes said that the recent decline in the crypto industry could be an investment opportunity.
Former BitMEX CEO Arthur Hayes evaluated the recent decline in the cryptocurrency markets on Twitter.
Hayes ignored the decline in crypto markets and said, “it may be time to shop”.
Hayes, who was a stock derivatives trader at Deutsche Bank and Citigroup before entering the crypto industry, believes that traders should not be afraid of current price movements using a fundamental thesis.
Stating that there is a bad situation in short-term investment, Hayes emphasized that those who think long-term misread the market.
Hayes stated that he is not worried about the long-term movement of the markets in any other scenario, except in a scenario where the Ethereum Merge fails.
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If you tell me the $ETH merge ain't happening, or something occurred which severely diminishes it's probability of success then I would be worried about my long position.— Arthur Hayes (@CryptoHayes) August 19, 2022
Bitcoin and Ethereum Fall
Cryptocurrency markets have experienced significant losses in the last 24 hours. While the leading cryptocurrency fell below $22,000, Ethereum also fell below the $1,700 level.
The Fed’s aggressive interest rate policy does not take a step back. It has been one of the biggest factors affecting the crypto industry.
Hayes recently stated that Ethereum will rise to $ 5,000.
