Arthur Hayes: Bitcoin Could Dip to $80-85K First, Then Rally to $200-250K by End of Year

On November 18th, Arthur Hayes, the co-founder of BitMEX, stated in his latest blog post titled "Snow Forecast" that "Bitcoin dropped from $125,000 to around the $90,000 range. Meanwhile, the S&P 500 and Nasdaq 100 indices are still staying at historical highs. This makes me think that a credit event may be on the verge of brewing. This view was confirmed when I noticed the decline in the U.S. dollar liquidity index since July. If the assessment is correct, the stock market may undergo a 10%-20% correction, and the 10-year U.S. Treasury yield is likely to approach 5%. This will force the Federal Reserve, the Treasury Department, or other U.S. government agencies to urgently implement some form of money printing scheme. During this soft period, Bitcoin may drop to $80,000 to $85,000. If a more widespread risk market collapse occurs and the Federal Reserve and the Treasury Department accelerate money printing actions, Bitcoin could rise to $200,000 to $250,000 by the end of the year."