Bitcoin’s tendency to move in tandem with technology stocks means the biggest cryptocurrency may slump to $30,000 by June, according to Arthur Hayes, the co-founder of crypto trading platform BitMEX.
Hayes, in a blog post on Monday, also said the same dynamic could drive Ether to $2,500. The tokens traded at around $41,500 and $3,070, respectively, at 6:30 p.m. in Hong Kong. Hayes said he’s buying “crash” puts expiring in June on both coins, while pointing out that’s he’s overall in a “long crypto position.”
