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‘If Genesis Goes Bankrupt, Bitcoin Will Return To $10,000,’ Says BitMEX Co-Founder

Former BitMEX CEO Arthur Hayes says that if Genesis goes bankrupt, Bitcoin might go to $10,000.
'If Genesis Goes Bankrupt, Bitcoin Will Return To $10,000,' Says BitMEX Co-Founder 3

The co-founder of the BitMEX exchange, Arthur Hayes, tweeted a screenshot of a Bloomberg piece about the Genesis bankruptcy. According to Hayes’ tweet, if Genesis declares bankruptcy, the price of Bitcoin might fall to $10,000.

In June, Hayes predicted that “the crypto market is about to see bloody carnage,” adding that “the Russia-Ukraine conflict will cause global growth to slow due to rising commodity prices and the world currently in a state of turmoil,” which would fill the stock market as well as the crypto market, which he described as “bloody.

'If Genesis Goes Bankrupt, Bitcoin Will Return To $10,000,' Says BitMEX Co-Founder 4

In terms of Bitcoin, Hayes stated that he will not purchase any more this year, instead opting to acquire low-cap Altcoins and wait for the next bull cycle.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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