BitMEX’s Chief Executive, Arthur Hayes in late August 2018,took to his firm’s blog to talk about some controversial sentiment. He discussed about Pepe Cash, which he personally dislikes for some reasons well known to him.
Hayes drew the people’s attention to projects funded through ICOs, most of which base their applications on Ethereum and crypto-centric funds.
The chastisement of Ether by Hayes was extensive. However,the long and short of this is that Hayet believed that there was enough selling pressure to push the asset below $100, which was at $200 as at BitMEX’s press time.
While a good number of Ethereum proponents made a mockery of his sentiment, the asset showed some signs of dropping to two digits. Initially, during the early hours of Thursday, on Coinbase Pro, Ethereum (ETH) suddenly dropped very low to $13. With this, some Ether skeptics took to Twitter claiming that the good days of the asset are over.
Also, Tron’s Justin Sun told developers to switch sides from Ethereum to Tron. Also, crypto commentator, NVK, talked about Ethereum’s centralized nature, before advising his followers to make use of Bitcoin and the Liquid Network in issuing tokens.
While Ethereum (ETH) recovered to $100, with those whobought in at the bottom making 770% near-instantly, the asset dropped lower on Thursday(yesterday), following the drop of BTC below $3500. At the end of the day, theasset dropped below $100. As Bitcoin keeps stumbling, dropping below $3,350 inan endless downtrend, Ethereum (ETH) even followed suit, dropping below $98before seeing itself fall rapidly to $88.
For the 2nd time in weeks, Arthur Hayes has correctlypredicted the crypto, as he initially predicted the price of Bitcoin to dropbelow $5,000.
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