Coinscreed
  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • DeFi
    • Blockchain News
  • Market Analysis
  • NFT
  • Metaverse
  • Cryptocurrencies
  • Learn
    • Bitcoin 101
    • Ethereum 101
    • Binance Smart Chain
    • DeFi 101
    • Ripple 101
    • ICO 101
    • Trading 101
    • Dogecoin 101
    • Lightening Network
    • NFT 101
  • Crypto How Tos
Advertise
No Result
View All Result
  • bitcoinBitcoin(BTC)
    $19,813.823.95% 24H
    BITCOIN
    24H : 3.95%
    Volume : $16,758,521,522.00
    Marketcap : $378,222,644,695.00
  • ethereumEthereum(ETH)
    $1,112.325.81% 24H
    ETHEREUM
    24H : 5.81%
    Volume : $11,476,604,798.00
    Marketcap : $132,906,203,033.00
  • binancecoinBNB(BNB)
    $225.785.20% 24H
    BNB
    24H : 5.20%
    Volume : $876,423,493.00
    Marketcap : $36,863,063,795.00
  • rippleXRP(XRP)
    $0.3243.27% 24H
    XRP
    24H : 3.27%
    Volume : $931,770,451.00
    Marketcap : $15,647,066,224.00
  • cardanoCardano(ADA)
    $0.4561.76% 24H
    CARDANO
    24H : 1.76%
    Volume : $682,970,823.00
    Marketcap : $15,407,868,010.00
  • terra-lunaTerra Luna Classic(LUNC)
    $0.000071-5.36% 24H
    TERRA LUNA CLASSIC
    24H : -5.36%
    Volume : $134,961,670.00
    Marketcap : $768,841,921.00
Coinscreed
No Result
View All Result
Home News

Arthur Hayes’s Prediction on Crypto Crash, No Point in Analyzing Charts

Ifeanyi Jesse by Ifeanyi Jesse
3 weeks ago
in News
Reading Time: 3 mins read
A A
Share on FacebookShare on Twitter

Arthur Hayes after forecasting the Bitcoin and Ethereum crash said he believes there is no point in analyzing charts after the red Monday

Arthur Hayes's Prediction on Crypto Crash, No Point in Analyzing Charts
Hayes’s Prediction on Crypto Crash, No Point in Analyzing Charts
  • Arthur Hayes’s Prediction After “Red Monday”
    • $20,000 for Bitcoin, $1000 for Ethereum
    • Time to Sell Spot
    • Not Time for Charts but Prayers

Arthur Hayes’s Prediction After “Red Monday”

Hayes, the founder of the infamous Bitmex derivatives exchange, who forecasted the Bitcoin and Ethereum crashes, has spoken out following the “red Monday” that hit both crypto and traditional markets, making it one of the worst days for traders and investors worldwide.

SuggestedArticles

Meta announces closing of Novi wallet after 10-month pilot

Meta announces closing of Novi wallet after 10-month pilot

4 hours ago
Vauld Fallout: Binance CEO Chengpang Zhao Slams Vauld

Vauld Fallout: Binance CEO Chengpang Zhao Slams Vauld

5 hours ago

$20,000 for Bitcoin, $1000 for Ethereum

Hayes recommended looking at both listed and unlisted option flows, noting that most open interest is now sitting near $20,000 for Bitcoin and $1,000 for Ethereum, indicating that this is a critical support level in OI.

2/

Now let's focus on the listed and unlisted options flows. Looking at @DeribitExchange , most of the OI is at $20k and $1k for $BTC and $ETH respectively. We can also assume that there are massive otc structured products centered around those strikes as well.

— Arthur Hayes (@CryptoHayes) June 14, 2022

Hayes argues that there is a lot of volume on the OTC market that isn’t tracked by on-chain measurements and indicators, in addition to the stated entries.

Time to Sell Spot

The founder of 100x also advised people who shorted a put option to sell the spot to hedge the option’s delta due to the delta’s nonlinear increase as the strike price approaches.

In terms of market behavior, Hayes feels that the price levels of $20,000 for BTC and $1,000 for ETH are the most crucial at this moment since they protect the market from massive selling pressure.

As previously stated, if dealers’ put options approach the strike price, they will be forced to sell their spot holdings, putting pressure on the spot BTC asset. Traders of Ethereum are subject to the same rule.

Not Time for Charts but Prayers

5/

As far as the charts go, you better get out your Lord Satoshi prayer book, and hope the lord shows kindness on the soul of the #crypto markets. Bc if these levels break, you might as well shut down your computer bc your charts will be useless for a while.

— Arthur Hayes (@CryptoHayes) June 14, 2022

Arthur also spoke out against technical research, claiming that charts can not provide any insight into current market moves. Instead, traders should pull out their Lord Satoshi prayerbooks and hope that the above-mentioned levels can withstand the tremendous selling pressure currently in place.

Tags: #Arthur Hayes#Crypto Crash
GXGBET
Coinscreed

Copyright © 2022 Coinscreed

Navigate Site

  • About
  • Advertise
  • Privacy & Policy
  • Crypto Price Charts

Follow Us

No Result
View All Result
  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • DeFi
    • Blockchain News
  • Market Analysis
  • NFT
  • Metaverse
  • Cryptocurrencies
  • Learn
    • Bitcoin 101
    • Ethereum 101
    • Binance Smart Chain
    • DeFi 101
    • Ripple 101
    • ICO 101
    • Trading 101
    • Dogecoin 101
    • Lightening Network
    • NFT 101
  • Crypto How Tos

Copyright © 2022 Coinscreed

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Go to mobile version